Smith Salley Wealth Management Acquires 1,282 Shares of Visa Inc. (NYSE:V)

Smith Salley Wealth Management boosted its position in Visa Inc. (NYSE:V - Free Report) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,556 shares of the credit-card processor's stock after purchasing an additional 1,282 shares during the quarter. Visa makes up approximately 2.2% of Smith Salley Wealth Management's investment portfolio, making the stock its 9th largest holding. Smith Salley Wealth Management's holdings in Visa were worth $34,940,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Visa by 5.5% in the second quarter. Pacer Advisors Inc. now owns 148,785 shares of the credit-card processor's stock worth $39,052,000 after acquiring an additional 7,807 shares in the last quarter. Merriman Wealth Management LLC raised its position in shares of Visa by 3.6% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor's stock valued at $400,000 after purchasing an additional 53 shares during the last quarter. Kowal Investment Group LLC boosted its stake in Visa by 2.0% in the 2nd quarter. Kowal Investment Group LLC now owns 5,431 shares of the credit-card processor's stock worth $1,426,000 after purchasing an additional 109 shares in the last quarter. ProShare Advisors LLC grew its position in Visa by 4.9% during the 2nd quarter. ProShare Advisors LLC now owns 468,804 shares of the credit-card processor's stock worth $123,047,000 after purchasing an additional 22,009 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of Visa by 21,918.0% in the second quarter. Frank Rimerman Advisors LLC now owns 28,183 shares of the credit-card processor's stock valued at $7,397,000 after purchasing an additional 28,055 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $331.92.

Visa Price Performance

V stock traded up $2.72 during trading on Monday, hitting $319.97. The stock had a trading volume of 5,746,152 shares, compared to its average volume of 5,703,089. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company's 50-day moving average price is $313.41 and its two-hundred day moving average price is $288.73. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $596.06 billion, a P/E ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The business's revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa's dividend payout ratio is 24.25%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated 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 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.