Palumbo Wealth Management LLC Boosts Stake in Visa Inc. (NYSE:V)

Palumbo Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,667 shares of the credit-card processor’s stock after acquiring an additional 1,083 shares during the quarter. Visa accounts for about 1.8% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Palumbo Wealth Management LLC’s holdings in Visa were worth $4,952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC grew its stake in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Visa by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after buying an additional 670,590 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s 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 completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa 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 transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,056 shares of company stock valued at $19,830,050. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of V stock opened at $356.04 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $326.05 and a 200-day moving average price of $300.04. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $356.74. The firm has a market capitalization of $661.45 billion, a PE ratio of 35.89, a P/E/G ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts expect that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Morgan Stanley raised their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Oppenheimer boosted their price target on shares of Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

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.