Hurley Capital LLC Invests $56,000 in Visa Inc. (NYSE:V)

Hurley Capital LLC bought a new stake in Visa Inc. (NYSE:V) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 169 shares of the credit-card processor’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Visa in the 4th quarter valued at $5,171,271,000. Vanguard Group Inc. grew its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa during the fourth quarter worth about $1,955,403,000. Proficio Capital Partners LLC lifted its holdings in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, UBS Group raised their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $355.84.

Visa Trading Down 7.6 %

NYSE:V opened at $313.46 on Friday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. 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 stock has a fifty day simple moving average of $345.02 and a 200-day simple moving average of $317.07. The company has a market capitalization of $582.34 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,842,490 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.