JGP Wealth Management LLC Acquires 357 Shares of Visa Inc. (NYSE:V)

JGP Wealth Management LLC lifted its stake in Visa Inc. (NYSE:V) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,762 shares of the credit-card processor’s stock after buying an additional 357 shares during the quarter. JGP Wealth Management LLC’s holdings in Visa were worth $1,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC boosted its position 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 during the last quarter. Geode Capital Management LLC grew its holdings in shares of Visa by 7.7% in the third 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 purchasing an additional 2,772,549 shares in the last quarter. Ameriprise Financial Inc. increased its position in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.9 %

Shares of NYSE V opened at $319.97 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The stock’s fifty day simple moving average is $313.16 and its two-hundred day simple moving average is $288.06. The stock has a market capitalization of $596.06 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. As a group, analysts expect that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.