Phraction Management LLC Has $5.96 Million Stock Holdings in Visa Inc. (NYSE:V)

Phraction Management LLC lessened its holdings in Visa Inc. (NYSE:V) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,900 shares of the credit-card processor’s stock after selling 406 shares during the period. Visa comprises approximately 2.5% of Phraction Management LLC’s portfolio, making the stock its 16th biggest position. Phraction Management LLC’s holdings in Visa were worth $5,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of V. International Assets Investment Management LLC boosted its position in shares of Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after buying an additional 4,710,188 shares during the period. FMR LLC boosted its position in Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the third quarter valued at $358,349,000. The Manufacturers Life Insurance Company boosted its position in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after purchasing an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Visa by 28.0% in the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after buying an additional 871,439 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

V stock traded up $0.90 during trading hours on Wednesday, reaching $269.51. 1,968,358 shares of the stock were exchanged, compared to its average volume of 5,886,939. The firm’s 50-day moving average is $278.98 and its 200-day moving average is $265.19. The company has a market cap of $494.96 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. On average, equities research analysts expect that Visa Inc. will post 9.9 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is 23.24%.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Raymond James boosted their price target on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Mizuho restated a “neutral” rating and set a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Finally, Susquehanna upped their price objective on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $302.58.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 19,874 shares of company stock worth $5,506,827 in the last three months. Insiders own 0.19% 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.