Promus Capital LLC Makes New $1.01 Million Investment in Visa Inc. (NYSE:V)

Promus Capital LLC purchased a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,199 shares of the credit-card processor’s stock, valued at approximately $1,011,000. Visa comprises about 1.0% of Promus Capital LLC’s portfolio, making the stock its 19th largest position.

A number of other large investors have also added to or reduced their stakes in V. Vision Financial Markets LLC bought a new stake in shares of Visa during the 4th quarter valued at about $395,000. Arizona State Retirement System boosted its stake in shares of Visa by 7.6% during the 4th quarter. Arizona State Retirement System now owns 485,687 shares of the credit-card processor’s stock valued at $153,497,000 after purchasing an additional 34,340 shares in the last quarter. Aigen Investment Management LP boosted its stake in shares of Visa by 20.5% during the 4th quarter. Aigen Investment Management LP now owns 5,694 shares of the credit-card processor’s stock valued at $1,800,000 after purchasing an additional 970 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Visa by 13.8% during the 4th quarter. Proficio Capital Partners LLC now owns 26,260 shares of the credit-card processor’s stock valued at $8,299,000 after purchasing an additional 3,191 shares in the last quarter. Finally, SPC Financial Inc. boosted its stake in shares of Visa by 1.5% during the 4th quarter. SPC Financial Inc. now owns 5,938 shares of the credit-card processor’s stock valued at $1,877,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.0 %

Shares of Visa stock opened at $352.18 on Thursday. The company has a market cap of $654.27 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company’s 50 day moving average is $335.17 and its 200 day moving average is $307.55. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 64,505 shares of company stock valued at $22,290,507. Insiders own 0.13% of the company’s stock.

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.