Summit Investment Advisors Inc. Decreases Holdings in Visa Inc. (NYSE:V)

Summit Investment Advisors Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,961 shares of the credit-card processor’s stock after selling 214 shares during the period. Summit Investment Advisors Inc.’s holdings in Visa were worth $11,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC raised its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Visa during the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc acquired a new position in Visa in the fourth quarter worth about $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,842,490 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley increased their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Stock Performance

Shares of V opened at $333.69 on Friday. The company has a 50-day moving average of $342.40 and a two-hundred day moving average of $318.76. Visa Inc. has a one year low of $252.70 and a one year 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 stock has a market cap of $619.91 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts expect 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 was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

About Visa

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.