2,423 Shares in Visa Inc. (NYSE:V) Acquired by Michels Family Financial LLC

Michels Family Financial LLC purchased a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,423 shares of the credit-card processor’s stock, valued at approximately $766,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC grew its holdings in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Compass Planning Associates Inc acquired a new stake in Visa during the 4th quarter valued at $32,000. NewSquare Capital LLC acquired a new stake in Visa during the 4th quarter valued at $35,000. Finally, FPC Investment Advisory Inc. grew its holdings in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.1%

Shares of Visa stock opened at $354.04 on Friday. The business has a 50-day moving average of $341.47 and a 200-day moving average of $331.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $653.27 billion, a PE ratio of 35.69, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $2.51 earnings per share. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s dividend payout ratio is presently 23.72%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock worth $41,548,282 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

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.