Mogy Joel R Investment Counsel Inc. Has $58.67 Million Stock Holdings in Visa Inc. (NYSE:V)

Mogy Joel R Investment Counsel Inc. raised its stake in Visa Inc. (NYSE:V) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,624 shares of the credit-card processor’s stock after purchasing an additional 202 shares during the period. Visa accounts for 3.5% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 9th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Visa were worth $58,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Atomi Financial Group Inc. lifted its holdings in shares of Visa by 19.7% in the 4th quarter. Atomi Financial Group Inc. now owns 15,980 shares of the credit-card processor’s stock worth $5,050,000 after purchasing an additional 2,630 shares in the last quarter. Monterey Private Wealth Inc. raised its holdings in Visa by 3.1% during the fourth quarter. Monterey Private Wealth Inc. now owns 4,938 shares of the credit-card processor’s stock worth $1,561,000 after buying an additional 148 shares during the last quarter. Transform Wealth LLC lifted its stake in shares of Visa by 95.0% in the fourth quarter. Transform Wealth LLC now owns 14,795 shares of the credit-card processor’s stock valued at $4,676,000 after buying an additional 7,206 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Visa by 1.5% during the fourth quarter. Alpha Cubed Investments LLC now owns 119,538 shares of the credit-card processor’s stock valued at $37,779,000 after buying an additional 1,736 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its position in shares of Visa by 4.9% during the fourth quarter. Clear Harbor Asset Management LLC now owns 31,483 shares of the credit-card processor’s stock worth $9,950,000 after acquiring an additional 1,475 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $328.18 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $328.51. The stock has a market cap of $611.36 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The stock has a fifty day moving average of $314.14 and a 200-day moving average of $289.71.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.72%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Bank of America boosted their price objective on Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley upped their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. TD Cowen raised 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. Keefe, Bruyette & Woods upped their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $332.81.

Visa Company 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.