Fortis Group Advisors LLC Purchases 334 Shares of Visa Inc. (NYSE:V)

Fortis Group Advisors LLC raised its position in Visa Inc. (NYSE:V) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,163 shares of the credit-card processor’s stock after buying an additional 334 shares during the quarter. Fortis Group Advisors LLC’s holdings in Visa were worth $4,476,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in V. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares in the last quarter. State Street Corp lifted its holdings in Visa by 4.5% during 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 in the last quarter. FMR LLC boosted its stake in Visa by 6.1% in the 3rd 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 period. Geode Capital Management LLC grew its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Visa during the third quarter valued at about $268,640,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $350.45 on Friday. The company’s fifty day moving average is $328.47 and its 200 day moving average is $301.39. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The stock has a market cap of $651.05 billion, a PE ratio of 35.33, a PEG ratio of 2.37 and a beta of 0.97.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS 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%. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

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 stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was 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. Over the last 90 days, insiders sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna raised their price target on shares of Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday, January 31st. Mizuho boosted their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $354.73.

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.