Otter Creek Advisors LLC Makes New $4.68 Million Investment in Visa Inc. (NYSE:V)

Otter Creek Advisors LLC purchased a new position in Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,800 shares of the credit-card processor’s stock, valued at approximately $4,677,000. Visa makes up 3.2% of Otter Creek Advisors LLC’s holdings, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new position in shares of Visa in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the fourth quarter valued at approximately $27,000. Reston Wealth Management LLC bought a new position in Visa during the third quarter valued at approximately $31,000. Finally, POM Investment Strategies LLC boosted its stake in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 2.1 %

V opened at $363.33 on Friday. The stock’s fifty day moving average is $333.03 and its two-hundred day moving average is $305.34. The company has a market capitalization of $674.99 billion, a P/E ratio of 36.63, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $364.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data 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 return on equity of 54.79% and a net margin of 54.27%. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. Visa’s dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. UBS Group increased their price target on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna increased their price target on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by company insiders.

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.