Palumbo Wealth Management LLC Purchases 1,083 Shares of Visa Inc. (NYSE:V)

Palumbo Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,667 shares of the credit-card processor's stock after purchasing an additional 1,083 shares during the quarter. Visa makes up about 1.8% of Palumbo Wealth Management LLC's holdings, making the stock its 12th biggest position. Palumbo Wealth Management LLC's holdings in Visa were worth $4,952,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the 4th quarter worth $26,000. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter worth $31,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 48.5% during the 4th 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 period. Finally, Modus Advisors LLC bought a new stake in shares of Visa during the 4th quarter worth $32,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on V. Raymond James reaffirmed an "outperform" rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group increased their price target on shares of Visa from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Mizuho increased their price target on shares of Visa from $279.00 to $292.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $355.31.

Visa Price Performance

Shares of Visa stock traded down $2.22 during mid-day trading on Friday, reaching $348.27. 6,910,504 shares of the stock were exchanged, compared to its average volume of 5,753,988. The company has a market cap of $647.01 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. 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 50-day simple moving average of $328.47 and a 200 day simple moving average of $301.39. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15.

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

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now owns 4,488 shares of the company's stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by corporate 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.