Visa Inc. (NYSE:V) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,201 shares of the credit-card processor’s stock after purchasing an additional 150 shares during the quarter. Visa comprises about 2.6% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 12th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Visa were worth $8,913,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Elevation Wealth Partners LLC increased its position in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC increased its position in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after acquiring an additional 30 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares during the last quarter. Crescent Grove Advisors LLC increased its position in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after acquiring an additional 31 shares during the last quarter. Finally, Vicus Capital increased its position in shares of Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 55,885 shares of company stock valued at $19,161,447. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Oppenheimer lifted their target price on Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Visa Stock Performance

Shares of V stock opened at $350.45 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $328.47 and a two-hundred day moving average of $301.39. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The company has a market cap of $651.05 billion, a P/E ratio of 35.33, a PEG ratio of 2.37 and a beta of 0.97.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.