Hidden Cove Wealth Management LLC Invests $223,000 in Visa Inc. (NYSE:V)

Hidden Cove Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 707 shares of the credit-card processor’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of V. State Street Corp lifted 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 in the last quarter. FMR LLC increased its holdings in shares of Visa by 6.1% in 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 purchasing an additional 3,265,518 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visa by 7.7% in the 3rd 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after purchasing an additional 670,590 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.5 %

V opened at $353.73 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $356.08. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $657.15 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. The business has a 50 day moving average of $324.29 and a 200-day moving average of $298.30.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts anticipate that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Buying and Selling

In related news, 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 transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade 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 through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 sold a total of 58,056 shares of company stock valued at $19,830,050 over the last ninety days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on V shares. Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Barclays upped their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $354.73.

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.