Fulton Breakefield Broenniman LLC Has $31 Million Stake in Visa Inc. (NYSE:V)

Fulton Breakefield Broenniman LLC increased its position in shares of Visa Inc. (NYSE:V) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,082 shares of the credit-card processor’s stock after buying an additional 708 shares during the period. Visa accounts for approximately 2.5% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 11th biggest position. Fulton Breakefield Broenniman LLC’s holdings in Visa were worth $31,003,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC grew its stake in Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares during the last quarter. Destiny Wealth Partners LLC boosted its stake in shares of Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after buying an additional 40 shares during the last quarter. Sunflower Bank N.A. boosted its stake in shares of Visa by 1.3% in the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after buying an additional 41 shares during the last quarter. Parker Financial LLC boosted its stake in shares of Visa by 4.8% in the fourth quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after buying an additional 42 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in shares of Visa by 1.0% in the fourth quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock worth $1,118,000 after buying an additional 42 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V traded down $0.64 during midday trading on Friday, hitting $274.52. The company had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The stock has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. The business’s 50-day simple moving average is $279.24 and its 200-day simple moving average is $264.33.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 earnings per share. On average, research analysts predict that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In other news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,874 shares of company stock worth $5,506,827. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Barclays upped their target price on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Oppenheimer upped their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday. Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James upped their price target on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, UBS Group upped their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

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.