Visa Inc. (NYSE:V) Holdings Boosted by Tortoise Investment Management LLC

Tortoise Investment Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,099 shares of the credit-card processor’s stock after purchasing an additional 33 shares during the period. Tortoise Investment Management LLC’s holdings in Visa were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Raymond James Financial Inc. purchased a new position in Visa during the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC grew its holdings in shares of Visa by 17,018.7% during 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 acquiring an additional 3,926,049 shares in the last quarter. State Street Corp grew its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC grew its holdings in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Visa by 7.7% during 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 acquiring an additional 2,772,549 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on V shares. 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. 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. 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 boosted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Transactions at Visa

In related news, 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 value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % 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, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,505 shares of company stock worth $22,290,507. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE:V opened at $341.07 on Tuesday. The firm’s 50-day moving average is $336.69 and its 200-day moving average is $309.43. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $633.63 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate 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 was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s payout ratio is 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.