Spectrum Wealth Counsel LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Spectrum Wealth Counsel LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 0.9% during the 4th quarter, Holdings Channel reports. The fund owned 37,883 shares of the credit-card processor’s stock after selling 335 shares during the period. Visa makes up approximately 1.4% of Spectrum Wealth Counsel LLC’s investment portfolio, making the stock its 18th biggest position. Spectrum Wealth Counsel LLC’s holdings in Visa were worth $11,972,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in Visa during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the 4th quarter valued at $27,000. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter valued at $26,000. POM Investment Strategies LLC raised 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 period. Finally, Modus Advisors LLC purchased a new stake in Visa during the 4th quarter valued at $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 2.1 %

Shares of V stock opened at $363.33 on Monday. The stock has a 50 day moving average of $333.03 and a 200 day moving average of $305.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $674.99 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.33 and a beta of 0.97. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $364.00.

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

Visa Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Bank of America increased their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $353.96.

Insider Activity at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction that occurred 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 directly 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 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 Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is owned by corporate insiders.

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.