Gilliland Jeter Wealth Management LLC Acquires New Shares in Visa Inc. (NYSE:V)

Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,293 shares of the credit-card processor’s stock, valued at approximately $2,940,000. Visa comprises about 1.2% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 19th largest position.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares during the last quarter. Northern Trust Corp increased its stake in shares of Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after purchasing an additional 763,505 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after purchasing an additional 374,489 shares during the period. Jennison Associates LLC increased its stake in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Visa by 1.5% in the third quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after purchasing an additional 108,280 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday. Susquehanna boosted their price target on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. KeyCorp boosted their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Visa Trading Down 0.2 %

Shares of Visa stock traded down $0.64 on Friday, hitting $274.52. 6,840,615 shares of the company’s stock traded hands, compared to its average volume of 6,528,673. The firm’s 50-day moving average price is $279.24 and its two-hundred day moving average price is $264.33. The stock has a market capitalization of $504.16 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Visa Inc. has a one year low of $216.14 and a one year 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.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during 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%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. On average, research analysts expect that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,874 shares of company stock worth $5,506,827. 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.