Visa Inc. (NYSE:V) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. lessened its stake in Visa Inc. (NYSE:V) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,871 shares of the credit-card processor’s stock after selling 89 shares during the period. Elmwood Wealth Management Inc.’s holdings in Visa were worth $1,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JCIC Asset Management Inc. increased its holdings in shares of Visa by 1.4% in the fourth quarter. JCIC Asset Management Inc. now owns 26,818 shares of the credit-card processor’s stock valued at $8,476,000 after purchasing an additional 370 shares during the last quarter. Forza Wealth Management LLC increased its stake in Visa by 2.9% during the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 33 shares during the last quarter. Cooper Financial Group increased its stake in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 9,318 shares of the credit-card processor’s stock worth $2,945,000 after acquiring an additional 560 shares during the last quarter. Wedmont Private Capital increased its stake in Visa by 9.6% during the fourth quarter. Wedmont Private Capital now owns 24,354 shares of the credit-card processor’s stock worth $7,494,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Agate Pass Investment Management LLC increased its stake in Visa by 10.3% during the fourth quarter. Agate Pass Investment Management LLC now owns 5,184 shares of the credit-card processor’s stock worth $1,638,000 after acquiring an additional 486 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on V shares. Wells Fargo & Company raised their target price on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Piper Sandler raised their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $330.85.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 own 0.13% of the company’s stock.

Visa Stock Down 0.4 %

Shares of NYSE V opened at $306.59 on Tuesday. The company has a market capitalization of $571.14 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. 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 business has a 50-day moving average of $312.44 and a two-hundred day moving average of $287.32. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 EPS. On average, analysts forecast that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

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.