Sugar Maple Asset Management LLC acquired a new position in shares of Visa Inc. (NYSE:V – Free Report) in the 4th quarter, Holdings Channel reports. The fund acquired 138 shares of the credit-card processor’s stock, valued at approximately $44,000.
A number of other large investors have also recently made changes to their positions in V. Custom Index Systems LLC purchased a new stake in shares of Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. purchased a new stake in Visa in the third quarter valued at $616,000. Oak Ridge Investments LLC grew its position in Visa by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares during the period. FORA Capital LLC purchased a new position in shares of Visa during the 3rd quarter valued at about $7,987,000. Finally, 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. 82.15% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Visa
In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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. 0.13% of the stock is currently owned by company insiders.
Visa Price Performance
Visa (NYSE:V – Get Free Report) last issued its 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. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. Equities research analysts expect that Visa Inc. will post 11.2 EPS for the current fiscal year.
Visa Increases Dividend
The company also recently announced 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 was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.73%. Visa’s payout ratio is 24.25%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on V shares. Susquehanna raised their target price on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Bank of America boosted their target price on shares of Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.81.
View Our Latest Research Report on V
Visa 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.
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