Clarity Wealth Development LLC Makes New $561,000 Investment in Visa Inc. (NYSE:V)

Clarity Wealth Development LLC bought a new position in Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,643 shares of the credit-card processor’s stock, valued at approximately $561,000. Visa makes up 0.6% of Clarity Wealth Development LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Swedbank AB boosted its holdings in shares of Visa by 10.7% during 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 period. Howard Capital Management Group LLC boosted its holdings in shares of Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after purchasing an additional 610 shares during the period. Pettinga Financial Advisors LLC acquired a new stake in shares of Visa during the third quarter worth approximately $228,000. Principal Financial Group Inc. boosted its holdings in shares of Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after purchasing an additional 411,210 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Visa during the third quarter worth approximately $660,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE:V opened at $334.35 on Tuesday. The stock has a market cap of $621.15 billion, a P/E ratio of 33.70, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a fifty day moving average price of $338.39 and a 200 day moving average price of $311.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,855 shares of company stock worth $35,165,827. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on V shares. Piper Sandler restated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley lifted 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. Finally, The Goldman Sachs Group lifted their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

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.