Halbert Hargrove Global Advisors LLC Purchases New Stake in Visa Inc. (NYSE:V)

Halbert Hargrove Global Advisors LLC acquired a new position in shares of Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel reports. The firm acquired 435 shares of the credit-card processor’s stock, valued at approximately $137,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Swedbank AB increased its position in Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after purchasing an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC increased its stake in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares during the last quarter. Pettinga Financial Advisors LLC purchased a new stake in Visa in the third quarter valued at $228,000. Prossimo Advisors LLC lifted its stake in shares of Visa by 1.4% in the 3rd quarter. Prossimo Advisors LLC now owns 18,515 shares of the credit-card processor’s stock valued at $5,091,000 after purchasing an additional 248 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Visa during the 3rd quarter worth $227,342,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley increased their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays increased their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 over the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $361.60 on Tuesday. 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 firm has a fifty day moving average price of $333.92 and a 200 day moving average price of $306.64. The company has a market cap of $671.77 billion, a P/E ratio of 36.45, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54.

Visa (NYSE:V) last issued its earnings results 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 net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

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.