Lockheed Martin Investment Management Co. Has $7.59 Million Stake in Visa Inc. (NYSE:V)

Lockheed Martin Investment Management Co. lowered its stake in shares of Visa Inc. (NYSE:V) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,020 shares of the credit-card processor’s stock after selling 320 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Visa were worth $7,591,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. acquired a new stake in Visa during the fourth quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at approximately $31,000. Modus Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $32,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Visa during the 4th quarter worth approximately $44,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction 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 sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,056 shares of company stock valued at $19,830,050. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on V. Bank of America upped their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Visa Stock Performance

V stock opened at $348.26 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $351.25. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $648.77 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The business’s fifty day moving average is $320.41 and its 200-day moving average is $295.12.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Visa Inc. will post 11.2 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.