Cardinal Point Capital Management ULC Grows Position in Visa Inc. (NYSE:V)

Cardinal Point Capital Management ULC raised its position in Visa Inc. (NYSE:V) by 126.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,190 shares of the credit-card processor’s stock after acquiring an additional 1,784 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Visa were worth $1,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wallace Advisory Group LLC raised its stake in Visa by 4.0% in the fourth quarter. Wallace Advisory Group LLC now owns 5,293 shares of the credit-card processor’s stock valued at $1,673,000 after buying an additional 204 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of Visa by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 11,587 shares of the credit-card processor’s stock valued at $3,662,000 after acquiring an additional 150 shares during the last quarter. Tuttle Capital Management LLC raised its position in shares of Visa by 34.4% during the 4th quarter. Tuttle Capital Management LLC now owns 1,312 shares of the credit-card processor’s stock worth $415,000 after acquiring an additional 336 shares in the last quarter. Fortis Advisors LLC lifted its stake in Visa by 7.3% during the fourth quarter. Fortis Advisors LLC now owns 1,468 shares of the credit-card processor’s stock worth $464,000 after purchasing an additional 100 shares during the last quarter. Finally, MRA Advisory Group lifted its stake in Visa by 116.2% during the fourth quarter. MRA Advisory Group now owns 3,886 shares of the credit-card processor’s stock worth $1,228,000 after purchasing an additional 2,089 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $309.24 on Wednesday. The stock has a fifty day moving average price of $312.76 and a 200 day moving average price of $287.65. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The firm has a market capitalization of $576.08 billion, a P/E ratio of 31.78, a PEG ratio of 2.11 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 EPS. Equities research analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’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 transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their target price on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $331.92.

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.