Meridian Wealth Management LLC Has $6.91 Million Holdings in Visa Inc. (NYSE:V)

Meridian Wealth Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,863 shares of the credit-card processor’s stock after acquiring an additional 1,186 shares during the quarter. Meridian Wealth Management LLC’s holdings in Visa were worth $6,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC raised its stake in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the period. Valmark Advisers Inc. raised its stake in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the period. Crescent Grove Advisors LLC raised its stake in shares of Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the period. Finally, Vicus Capital raised its stake in shares of Visa by 3.1% in the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lifted their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Trading Down 0.3 %

Shares of NYSE:V opened at $361.60 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $671.77 billion, a PE ratio of 36.45, a P/E/G ratio of 2.33 and a beta of 0.97. The business has a 50 day moving average of $333.92 and a 200-day moving average of $306.64. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed 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 0.65%. Visa’s dividend payout ratio is currently 23.79%.

Insider Buying and Selling at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred 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 directly owns 4,488 shares in the company, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 over the last three months. Corporate insiders own 0.13% of the company’s stock.

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.