Otter Creek Advisors LLC Invests $4.68 Million in Visa Inc. (NYSE:V)

Otter Creek Advisors LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel reports. The fund purchased 14,800 shares of the credit-card processor’s stock, valued at approximately $4,677,000. Visa comprises 3.2% of Otter Creek Advisors LLC’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Peterson Financial Group Inc. acquired a new stake in Visa during the 3rd quarter worth about $26,000. Decker Retirement Planning Inc. acquired a new stake in Visa during the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the 4th quarter worth about $27,000. Reston Wealth Management LLC acquired a new stake in Visa during the 3rd quarter worth about $31,000. Finally, POM Investment Strategies LLC lifted its position in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last ninety days. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley lifted their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Susquehanna lifted their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Up 2.1 %

Shares of Visa stock opened at $363.33 on Friday. The stock has a market cap of $674.99 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.33 and a beta of 0.97. The stock’s 50 day simple moving average is $333.03 and its 200-day simple moving average is $305.34. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $364.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.