Traveka Wealth LLC Grows Stock Position in Visa Inc. (NYSE:V)

Traveka Wealth LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 1.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,655 shares of the credit-card processor’s stock after acquiring an additional 49 shares during the period. Traveka Wealth LLC’s holdings in Visa were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Custom Index Systems LLC purchased a new stake in shares of Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. acquired a new stake in Visa during the 3rd quarter worth about $616,000. FORA Capital LLC purchased a new position in shares of Visa during the 3rd quarter valued at about $7,987,000. Chicago Capital LLC lifted its holdings in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC boosted its stake in shares of Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.4 %

Shares of V opened at $306.59 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $571.14 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company’s 50-day moving average price is $312.44 and its 200 day moving average price is $287.32. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. 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 prior year, the business posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna lifted their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $330.85.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

About Visa

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.