OV Management LLC Buys 986 Shares of Visa Inc. (NYSE:V)

OV Management LLC raised its stake in shares of Visa Inc. (NYSE:V) by 6.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,261 shares of the credit-card processor’s stock after buying an additional 986 shares during the quarter. Visa comprises 2.2% of OV Management LLC’s portfolio, making the stock its 11th largest holding. OV Management LLC’s holdings in Visa were worth $4,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Riverstone Advisors LLC bought a new stake in Visa during the fourth quarter valued at $217,000. Journey Strategic Wealth LLC raised its holdings in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after acquiring an additional 1,361 shares in the last quarter. King Wealth Management Group boosted its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Visa during the fourth quarter worth about $10,163,000. Finally, Copley Financial Group Inc. bought a new position in shares of Visa in the third quarter worth approximately $616,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 2.3 %

V opened at $350.68 on Tuesday. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $344.22 and a two-hundred day simple moving average of $315.95. The firm has a market capitalization of $651.48 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS 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%. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were 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 was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on V shares. Wells Fargo & Company lifted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,560,961 over the last 90 days. 0.13% of the stock is owned by company insiders.

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.