SP Asset Management LLC Buys 37 Shares of Visa Inc. (NYSE:V)

SP Asset Management LLC increased its stake in shares of Visa Inc. (NYSE:V) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,751 shares of the credit-card processor’s stock after buying an additional 37 shares during the quarter. SP Asset Management LLC’s holdings in Visa were worth $6,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of V. Elevation Wealth Partners LLC grew its position in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC grew its position in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. grew its position in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the last quarter. Crescent Grove Advisors LLC grew its position in shares of Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the last quarter. Finally, Vicus Capital grew its position in shares of Visa by 3.1% in the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 2.5 %

Shares of NYSE:V opened at $343.81 on Friday. The firm has a market cap of $638.72 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.33 and a beta of 0.95. 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 Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The business has a fifty day simple moving average of $335.63 and a 200 day simple moving average of $307.80.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, Susquehanna increased their price target on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,505 shares of company stock valued at $22,290,507 in the last three months. 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.