Visa Inc. (NYSE:V) Shares Purchased by Tuttle Capital Management LLC

Tuttle Capital Management LLC lifted its position in Visa Inc. (NYSE:V) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,312 shares of the credit-card processor’s stock after purchasing an additional 336 shares during the quarter. Visa comprises about 2.4% of Tuttle Capital Management LLC’s holdings, making the stock its 13th biggest holding. Tuttle Capital Management LLC’s holdings in Visa were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wulff Hansen & CO. grew its holdings in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the period. WealthPLAN Partners LLC boosted its stake in Visa by 1.8% during the second quarter. WealthPLAN Partners LLC now owns 14,183 shares of the credit-card processor’s stock worth $3,723,000 after buying an additional 254 shares during the period. Luts & Greenleigh Group Inc. acquired a new stake in shares of Visa during the second quarter valued at about $335,000. Lmcg Investments LLC raised its stake in shares of Visa by 1.7% in the 2nd quarter. Lmcg Investments LLC now owns 73,016 shares of the credit-card processor’s stock valued at $19,165,000 after acquiring an additional 1,228 shares during the period. Finally, Excalibur Management Corp lifted its holdings in shares of Visa by 0.9% in the 2nd quarter. Excalibur Management Corp now owns 13,407 shares of the credit-card processor’s stock worth $3,519,000 after acquiring an additional 120 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the topic of a number of research reports. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays raised their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Bank of America upped their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.92.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 0.8 %

V opened at $309.24 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The business’s 50 day moving average is $312.76 and its two-hundred day moving average is $287.65. The firm has a market cap of $576.08 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 EPS. On average, research analysts predict that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.