AMI Investment Management Inc. Trims Stock Position in Visa Inc. (NYSE:V)

by · The Markets Daily

AMI Investment Management Inc. trimmed its stake in shares of Visa Inc. (NYSE:V – Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,733 shares of the credit-card processor’s stock after selling 371 shares during the quarter. Visa comprises 1.8% of AMI Investment Management Inc.’s investment portfolio, making the stock its 15th biggest holding. AMI Investment Management Inc.’s holdings in Visa were worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Capital & Planning LLC increased its position in Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after purchasing an additional 166 shares during the period. Sovereign Investment Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $424,000. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Visa during the fourth quarter worth $202,074,000. Finally, Revolve Wealth Partners LLC raised its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on V. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. UBS Group increased their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Finally, Citigroup initiated coverage on Visa in a report on Monday. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Read Our Latest Research Report on Visa

Visa Stock Down 0.4%

V stock opened at $366.67 on Friday. The company has a 50 day moving average price of $344.98 and a two-hundred day moving average price of $335.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $676.56 billion, a P/E ratio of 36.96, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $371.00.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock worth $41,546,299 in the last three months. Company insiders own 0.13% of the company’s stock.

Visa Company Profile

(Free Report)

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.

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