Joule Financial LLC decreased its holdings in Visa Inc. (NYSE:V – Free Report) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 809 shares of the credit-card processor’s stock after selling 62 shares during the period. Joule Financial LLC’s holdings in Visa were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in shares of Visa in the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. purchased a new position in Visa in the fourth quarter worth $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter worth $31,000. Modus Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at $32,000. Finally, West Financial Advisors LLC boosted its position in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Visa Price Performance
V stock opened at $319.97 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $596.06 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The business has a 50 day simple moving average of $313.41 and a 200-day simple moving average of $288.73.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.74%. Visa’s payout ratio is 24.25%.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the 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 transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
V has been the topic of several recent analyst reports. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna lifted their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Finally, Oppenheimer increased their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $331.92.
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.
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