Steele Capital Management Inc. Purchases Shares of 2,458 Visa Inc. (NYSE:V)

Steele Capital Management Inc. purchased a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,458 shares of the credit-card processor’s stock, valued at approximately $640,000.

Other institutional investors have also added to or reduced their stakes in the company. Trifecta Capital Advisors LLC boosted its holdings in shares of Visa by 2.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after purchasing an additional 536 shares during the period. Welch Group LLC boosted its holdings in shares of Visa by 2.1% in the 3rd quarter. Welch Group LLC now owns 24,050 shares of the credit-card processor’s stock worth $5,532,000 after purchasing an additional 485 shares during the period. Opal Wealth Advisors LLC boosted its holdings in shares of Visa by 3.8% in the 3rd quarter. Opal Wealth Advisors LLC now owns 5,928 shares of the credit-card processor’s stock worth $1,364,000 after purchasing an additional 218 shares during the period. Benedict Financial Advisors Inc. boosted its holdings in shares of Visa by 3.2% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 20,903 shares of the credit-card processor’s stock worth $4,808,000 after purchasing an additional 640 shares during the period. Finally, Czech National Bank boosted its holdings in shares of Visa by 46.6% in the 3rd quarter. Czech National Bank now owns 280,833 shares of the credit-card processor’s stock worth $64,594,000 after purchasing an additional 89,250 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 19,874 shares of company stock valued at $5,506,827 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 1.0 %

Shares of V traded down $2.71 during trading hours on Monday, hitting $271.81. The company had a trading volume of 4,191,968 shares, compared to its average volume of 5,930,494. The company has a market capitalization of $499.18 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $216.14 and a one year high of $290.96. The company’s fifty day moving average price is $279.24 and its two-hundred day moving average price is $264.73.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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 yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on V. Keefe, Bruyette & Woods lifted their target price on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Citigroup boosted their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wedbush boosted their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. KeyCorp boosted their price objective on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Finally, William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Profile

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.