Elgethun Capital Management Grows Stock Holdings in Visa Inc. (NYSE:V)

Elgethun Capital Management grew its stake in Visa Inc. (NYSE:V) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,095 shares of the credit-card processor’s stock after purchasing an additional 105 shares during the period. Elgethun Capital Management’s holdings in Visa were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in V. Decker Retirement Planning Inc. purchased a new stake in shares of Visa in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC increased its stake in 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 acquiring an additional 32 shares during the last quarter. Modus Advisors LLC purchased a new stake in Visa in the fourth quarter valued at $32,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $313.46 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $345.02 and its two-hundred day moving average is $317.27. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The firm has a market capitalization of $582.34 billion, a PE ratio of 31.60, a P/E/G ratio of 2.33 and a beta of 0.94.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. Wells Fargo & Company boosted their target price on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group lifted their price objective on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Activity

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 143,205 shares of company stock worth $48,842,490. Company insiders own 0.13% of the company’s stock.

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.