Solidarity Wealth LLC Grows Stake in Visa Inc. (NYSE:V)

Solidarity Wealth LLC increased its position in Visa Inc. (NYSE:V) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,302 shares of the credit-card processor’s stock after purchasing an additional 776 shares during the period. Visa accounts for 4.0% of Solidarity Wealth LLC’s portfolio, making the stock its 7th biggest position. Solidarity Wealth LLC’s holdings in Visa were worth $15,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Custom Index Systems LLC purchased a new position in Visa during the third quarter valued at $731,000. Copley Financial Group Inc. bought a new position in shares of Visa during the third quarter valued at $616,000. Oak Ridge Investments LLC raised its position in shares of Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares during the last quarter. FORA Capital LLC bought a new position in Visa in the 3rd quarter worth about $7,987,000. Finally, Chicago Capital LLC grew its position in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were 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 own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Bank of America lifted their price objective on Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a report on Wednesday. Four equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $332.81.

Visa Stock Performance

Shares of NYSE V opened at $323.55 on Thursday. The stock has a market cap of $602.73 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $325.74. The firm has a fifty day moving average price of $313.86 and a 200-day moving average price of $289.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $2.33 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.73%. Visa’s payout ratio is currently 24.25%.

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.