Mattern Capital Management LLC Grows Stake in Visa Inc. (NYSE:V)

Mattern Capital Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,072 shares of the credit-card processor’s stock after buying an additional 1,118 shares during the period. Mattern Capital Management LLC’s holdings in Visa were worth $8,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverstone Advisors LLC bought a new stake in shares of Visa during the 4th quarter worth approximately $217,000. Custom Index Systems LLC bought a new stake in shares of Visa during the 3rd quarter worth approximately $731,000. Journey Strategic Wealth LLC lifted its stake in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth approximately $616,000. Finally, Calamos Wealth Management LLC lifted its stake in shares of Visa by 0.6% during the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.6 %

Shares of V stock opened at $348.27 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15. The stock’s fifty day moving average price is $329.14 and its 200 day moving average price is $302.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $647.01 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last announced its earnings results 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 54.79% and a net margin of 54.27%. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Mizuho raised their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $353.96.

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.