Sound Income Strategies LLC Has $1.22 Million Position in Visa Inc. (NYSE:V)

Sound Income Strategies LLC reduced its position in shares of Visa Inc. (NYSE:V) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,855 shares of the credit-card processor’s stock after selling 190 shares during the period. Sound Income Strategies LLC’s holdings in Visa were worth $1,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Visa during the fourth quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in Visa during the third quarter valued at approximately $26,000. Modus Advisors LLC acquired a new position in Visa during the fourth quarter valued at approximately $32,000. Reston Wealth Management LLC bought a new stake in Visa in the third quarter valued at approximately $31,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Visa in the fourth quarter valued at approximately $44,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on V shares. Piper Sandler upped their price objective on Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America upped their price objective on Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $335.52.

Visa Trading Up 0.6 %

Shares of V stock opened at $330.20 on Monday. The company’s fifty day simple moving average is $314.95 and its two-hundred day simple moving average is $290.59. 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 Inc. has a 1 year low of $252.70 and a 1 year high of $331.09. The stock has a market capitalization of $615.11 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last announced its 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was 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 directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Company 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.