Meridian Wealth Management LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,863 shares of the credit-card processor's stock after purchasing an additional 1,186 shares during the period. Meridian Wealth Management LLC's holdings in Visa were worth $6,909,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in V. Swedbank AB grew its holdings in shares of Visa by 10.7% in the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor's stock worth $566,153,000 after purchasing an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC grew its stake in Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor's stock worth $29,242,000 after acquiring an additional 610 shares in the last quarter. Pettinga Financial Advisors LLC purchased a new position in shares of Visa during the third quarter worth approximately $228,000. Prossimo Advisors LLC raised its stake in shares of Visa by 1.4% during the third quarter. Prossimo Advisors LLC now owns 18,515 shares of the credit-card processor's stock valued at $5,091,000 after acquiring an additional 248 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Visa in the third quarter valued at approximately $227,342,000. 82.15% of the stock is currently owned by institutional investors.
Visa Stock Performance
Visa stock traded up $1.63 during trading hours on Friday, hitting $345.79. 6,356,231 shares of the stock traded hands, compared to its average volume of 6,301,765. The firm's 50 day moving average price is $335.63 and its 200-day moving average price is $307.80. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $642.41 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's payout ratio is 23.79%.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. This represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,505 shares of company stock valued at $22,290,507 over the last ninety days. Company insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Citigroup reaffirmed a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $383.00 target price (up previously from $368.00) 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $353.96.
Read Our Latest Analysis on Visa
About Visa
(
Free Report)
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.
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