Everhart Financial Group Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Everhart Financial Group Inc. grew its stake in Visa Inc. (NYSE:V) by 9.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,069 shares of the credit-card processor’s stock after purchasing an additional 836 shares during the period. Everhart Financial Group Inc.’s holdings in Visa were worth $3,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Elevation Wealth Partners LLC raised its position in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares in the last quarter. Warther Private Wealth LLC increased its holdings in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares in the last quarter. Crescent Grove Advisors LLC lifted its stake in shares of Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the period. Vicus Capital boosted its holdings in Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after buying an additional 31 shares in the last quarter. Finally, Phoenix Wealth Advisors grew its position in Visa by 3.4% during the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after buying an additional 32 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

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

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 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%. Sell-side analysts anticipate that Visa Inc. will post 11.27 EPS for the current year.

Visa Announces Dividend

The company 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

V has been the topic of several research analyst reports. Susquehanna boosted their price target on Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Bank of America upped their target price on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

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.