49 Wealth Management LLC Boosts Position in Visa Inc. (NYSE:V)

49 Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,582 shares of the credit-card processor’s stock after buying an additional 61 shares during the period. 49 Wealth Management LLC’s holdings in Visa were worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC raised its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the period. Compass Planning Associates Inc purchased a new position in Visa in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. raised its holdings in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the period. Finally, NewSquare Capital LLC purchased a new position in Visa in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $358.59 on Thursday. The company has a market cap of $661.66 billion, a PE ratio of 36.15, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a fifty day moving average price of $340.60 and a two-hundred day moving average price of $330.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.51 earnings per share. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Evercore ISI initiated coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. UBS Group lowered their price objective on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.38.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is currently 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.