Ibex Wealth Advisors Buys Shares of 42,373 Visa Inc. (NYSE:V)

Ibex Wealth Advisors purchased a new position in Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,373 shares of the credit-card processor’s stock, valued at approximately $13,392,000. Visa accounts for approximately 1.6% of Ibex Wealth Advisors’ portfolio, making the stock its 12th largest position.

Several other hedge funds also recently made changes to their positions in the stock. Crescent Grove Advisors LLC grew its holdings in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after buying an additional 31 shares in the last quarter. Phoenix Wealth Advisors grew its stake in Visa by 3.4% during the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after acquiring an additional 32 shares in the last quarter. Unionview LLC grew its stake in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after acquiring an additional 33 shares in the last quarter. Forza Wealth Management LLC lifted its stake in Visa by 2.9% in the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after purchasing an additional 33 shares in the last quarter. Finally, Presilium Private Wealth LLC boosted its holdings in Visa by 2.2% in the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after purchasing an additional 33 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Macquarie raised their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Raymond James reissued an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a research note on Friday. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $352.27.

Visa Trading Down 0.3 %

NYSE:V opened at $342.05 on Friday. The firm has a market capitalization of $637.19 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $317.09 and a 200 day moving average of $292.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $351.25.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. On average, research analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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 stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $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 available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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. Insiders own 0.13% of the company’s stock.

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.