Sky Investment Group LLC Buys 208 Shares of Visa Inc. (NYSE:V)

Sky Investment Group LLC increased its stake in shares of Visa Inc. (NYSE:V) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,259 shares of the credit-card processor’s stock after buying an additional 208 shares during the quarter. Sky Investment Group LLC’s holdings in Visa were worth $2,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of V. Unionview LLC grew its position in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the period. Forza Wealth Management LLC grew its position in shares of Visa by 2.9% in the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after purchasing an additional 33 shares during the period. Presilium Private Wealth LLC grew its position in shares of Visa by 2.2% in the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after purchasing an additional 33 shares during the period. St. Louis Trust Co grew its position in shares of Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after purchasing an additional 34 shares during the period. Finally, FWG Holdings LLC grew its position in shares of Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after purchasing an additional 34 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $323.55 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $325.74. The firm’s 50 day moving average price is $313.86 and its 200 day moving average price is $289.47. The company has a market cap of $602.73 billion, a P/E ratio of 33.25, a PEG ratio of 2.15 and a beta of 0.96. 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 (NYSE:V) last announced its quarterly earnings data 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 24.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird boosted their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.81.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on 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 in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.