Fisher Funds Management LTD Buys New Shares in Visa Inc. (NYSE:V)

Fisher Funds Management LTD bought a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,662 shares of the credit-card processor’s stock, valued at approximately $9,058,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Visa during the fourth quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in Visa during the third quarter worth approximately $26,000. POM Investment Strategies LLC increased its position 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 buying an additional 32 shares during the last quarter. Modus Advisors LLC acquired a new position in Visa during the fourth quarter worth approximately $32,000. Finally, Compass Planning Associates Inc acquired a new position in Visa during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of V stock opened at $349.46 on Tuesday. The stock’s fifty day moving average price is $329.81 and its two-hundred day moving average price is $303.29. The company has a market cap of $649.21 billion, a PE ratio of 35.23, a P/E/G ratio of 2.33 and a beta of 0.97. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Buying and Selling at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction 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 sale, the insider now owns 36,566 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were 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. In the last quarter, insiders have sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Six 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $353.96.

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.