Floyd Financial Group LLC Takes $941,000 Position in Visa Inc. (NYSE:V)

Floyd Financial Group LLC purchased a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,059 shares of the credit-card processor’s stock, valued at approximately $941,000.

A number of other institutional investors have also recently bought and sold shares of V. Peterson Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth $26,000. Modus Advisors LLC bought a new stake in Visa in the fourth quarter worth $32,000. Reston Wealth Management LLC bought a new stake in Visa in the third quarter worth $31,000. West Financial Advisors LLC increased its position in Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after buying an additional 73 shares during the last quarter. Finally, Fairway Wealth LLC bought a new position in Visa during the second quarter valued at about $39,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were 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. 0.13% of the stock is owned by insiders.

Visa Trading Up 0.8 %

Shares of V stock opened at $309.24 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a fifty day moving average of $312.76 and a 200-day moving average of $287.65. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61. The stock has a market cap of $576.08 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s payout ratio is currently 24.25%.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

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.