Persium Advisors LLC Purchases Shares of 1,736 Visa Inc. (NYSE:V)

Persium Advisors LLC purchased a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, Holdings Channel reports. The fund purchased 1,736 shares of the credit-card processor’s stock, valued at approximately $549,000.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC lifted its holdings in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $306.59 on Tuesday. The business’s 50 day simple moving average is $312.44 and its 200 day simple moving average is $287.32. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The stock has a market capitalization of $571.14 billion, a PE ratio of 31.51, a PEG 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.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s payout ratio is 24.25%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. Wells Fargo & Company lifted their target price on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Barclays lifted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer lifted their target price on Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $330.85.

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.