JPL Wealth Management LLC Invests $598,000 in Visa Inc. (NYSE:V)

JPL Wealth Management LLC purchased a new position in Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,892 shares of the credit-card processor’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Swedbank AB lifted its position in shares of Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after acquiring an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC lifted its position in shares of Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after acquiring an additional 610 shares in the last quarter. Pettinga Financial Advisors LLC purchased a new stake in shares of Visa in the 3rd quarter valued at approximately $228,000. Principal Financial Group Inc. lifted its position in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after acquiring an additional 411,210 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Visa in the 3rd quarter valued at approximately $660,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group increased their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Up 0.3 %

V opened at $333.01 on Thursday. The company has a market cap of $618.66 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $337.35 and a 200 day simple moving average of $310.05.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is currently owned by corporate insiders.

Visa 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.