Sierra Ocean LLC Purchases Shares of 982 Visa Inc. (NYSE:V)

Sierra Ocean LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 982 shares of the credit-card processor's stock, valued at approximately $311,000.

Several other hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. purchased a new stake in Visa during the fourth quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC lifted 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 valued at $31,000 after acquiring an additional 32 shares during the last quarter. Modus Advisors LLC purchased a new stake in Visa during the fourth quarter valued at approximately $32,000. Finally, Reston Wealth Management LLC purchased a new stake in Visa during the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

V traded down $2.22 during midday trading on Friday, hitting $348.27. 6,910,504 shares of the company traded hands, compared to its average volume of 5,472,298. 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 company has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $357.15. The business has a 50 day simple moving average of $329.14 and a two-hundred day simple moving average of $302.03.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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 net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share 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 issued a dividend of $0.59 per share. 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 23.79%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,885 shares of company stock valued at $19,161,447. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on V shares. JPMorgan Chase & Co. upped their price target on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Visa from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Visa from $360.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.31.

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.