Hobbs Wealth Management LLC Makes New $291,000 Investment in Visa Inc. (NYSE:V)

Hobbs Wealth Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 921 shares of the credit-card processor's stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also made changes to their positions in V. Norges Bank purchased a new position in Visa during the fourth quarter worth approximately $5,171,271,000. Vanguard Group Inc. raised its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new position in Visa in the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC grew its position in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. Morgan Stanley upped their price target on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.84.

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Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,842,490 in the last quarter. Insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V stock traded up $2.15 during trading hours on Tuesday, reaching $337.33. The company's stock had a trading volume of 1,993,032 shares, compared to its average volume of 7,244,849. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The firm's 50 day simple moving average is $342.12 and its 200-day simple moving average is $319.51. 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 company has a market capitalization of $626.68 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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%. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Tuesday, February 11th. Visa's dividend payout ratio 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.