Turning Point Benefit Group Inc. Invests $405,000 in Visa Inc. (NYSE:V)

Turning Point Benefit Group Inc. bought a new stake in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,321 shares of the credit-card processor’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Riverstone Advisors LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $217,000. Custom Index Systems LLC bought a new position in Visa in the third quarter worth $731,000. Journey Strategic Wealth LLC lifted its position in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after buying an additional 1,361 shares during the period. Copley Financial Group Inc. purchased a new position in Visa during the third quarter valued at $616,000. Finally, Calamos Wealth Management LLC boosted its holdings in shares of Visa by 0.6% during the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock valued at $24,475,000 after buying an additional 435 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Up 0.3 %

Visa stock opened at $349.46 on Tuesday. The stock has a market cap of $649.21 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. 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 fifty day moving average of $329.81 and a 200 day moving average of $303.29. Visa Inc. has a one year low of $252.70 and a one year high of $357.15.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Activity

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock valued at $19,161,447 in the last 90 days. Company insiders own 0.13% 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.