Visa Inc. (NYSE:V) Stock Position Increased by Corebridge Financial Inc.

Corebridge Financial Inc. grew its position in Visa Inc. (NYSE:V) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 490,900 shares of the credit-card processor’s stock after purchasing an additional 16,476 shares during the period. Visa makes up approximately 0.8% of Corebridge Financial Inc.’s holdings, making the stock its 13th biggest position. Corebridge Financial Inc.’s holdings in Visa were worth $155,144,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the 4th quarter valued at about $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Visa in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.9 %

Shares of Visa stock opened at $336.51 on Monday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a market cap of $625.15 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.33 and a beta of 0.95. 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 50-day moving average price of $340.48 and a 200 day moving average price of $313.29.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. Visa’s payout ratio is 23.79%.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 36,566 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,560,961 in the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on V. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Six 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

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.