Visa Inc. (NYSE:V) Holdings Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its position in shares of Visa Inc. (NYSE:V) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 170,716 shares of the credit-card processor’s stock after buying an additional 8,101 shares during the quarter. Visa accounts for 0.9% of NewEdge Wealth LLC’s investment portfolio, making the stock its 18th biggest holding. NewEdge Wealth LLC’s holdings in Visa were worth $53,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in Visa by 3.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 148,154 shares of the credit-card processor’s stock worth $46,823,000 after purchasing an additional 5,187 shares in the last quarter. Oakwell Private Wealth Management LLC grew its holdings in shares of Visa by 7.5% during the 4th quarter. Oakwell Private Wealth Management LLC now owns 3,882 shares of the credit-card processor’s stock valued at $1,227,000 after acquiring an additional 270 shares in the last quarter. Magnolia Private Wealth LLC purchased a new position in shares of Visa during the 4th quarter valued at $216,000. Checchi Capital Advisers LLC grew its holdings in shares of Visa by 1.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 15,822 shares of the credit-card processor’s stock valued at $5,000,000 after acquiring an additional 250 shares in the last quarter. Finally, Armstrong Fleming & Moore Inc grew its holdings in shares of Visa by 17.2% during the 4th quarter. Armstrong Fleming & Moore Inc now owns 1,184 shares of the credit-card processor’s stock valued at $374,000 after acquiring an additional 174 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Raymond James restated an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. Susquehanna boosted their price target on shares of Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. 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. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were 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 $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,885 shares of company stock valued at $19,161,447. Insiders own 0.13% of the company’s stock.

Visa Stock Up 2.1 %

Visa stock opened at $363.33 on Friday. The firm has a fifty day moving average price of $333.03 and a two-hundred day moving average price of $305.34. The firm has a market cap of $674.99 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 2.33 and a beta of 0.97. 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 Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $364.00.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

About Visa

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.