Hemington Wealth Management raised its stake in Visa Inc. (NYSE:V – Free Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,252 shares of the credit-card processor’s stock after buying an additional 119 shares during the quarter. Hemington Wealth Management’s holdings in Visa were worth $711,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of V. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new position in Visa in the 4th quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in Visa during the third quarter worth about $31,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $354.73.
Insiders Place Their Bets
In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,056 shares of company stock worth $19,830,050. Corporate insiders own 0.13% of the company’s stock.
Visa Stock Down 0.5 %
V stock opened at $353.73 on Friday. The stock has a market capitalization of $657.15 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a fifty day moving average of $325.14 and a 200-day moving average of $298.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $356.08.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, analysts expect that Visa Inc. will post 11.27 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.
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.
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