Gitterman Wealth Management LLC Makes New $217,000 Investment in Visa Inc. (NYSE:V)

Gitterman Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 834 shares of the credit-card processor’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in shares of Visa in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter valued at approximately $32,000. Valued Wealth Advisors LLC bought a new position in shares of Visa during the 4th quarter worth approximately $37,000. Stuart Chaussee & Associates Inc. grew its position in shares of Visa by 66.2% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock worth $61,000 after buying an additional 94 shares during the period. Finally, Macroview Investment Management LLC increased its stake in shares of Visa by 1,019.2% in the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock valued at $67,000 after acquiring an additional 265 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V traded down $0.64 during mid-day trading on Friday, reaching $274.52. 6,840,615 shares of the stock traded hands, compared to its average volume of 6,528,673. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company 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. The firm has a fifty day moving average price of $279.24 and a 200 day moving average price of $264.52.

Visa (NYSE:V) last posted 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 for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’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 earned $2.09 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on V. Oppenheimer boosted their target price on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday. TD Cowen began coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Evercore ISI upped their target price on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, Raymond James raised their price target on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $302.58.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred 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 owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold 19,874 shares of company stock worth $5,506,827 over the last ninety days. Insiders own 0.19% of the company’s stock.

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.