Eagle Rock Investment Company LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Eagle Rock Investment Company LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,331 shares of the credit-card processor’s stock after buying an additional 7,982 shares during the quarter. Visa accounts for about 2.1% of Eagle Rock Investment Company LLC’s holdings, making the stock its 13th biggest holding. Eagle Rock Investment Company LLC’s holdings in Visa were worth $12,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in Visa in the 3rd quarter valued at about $31,000. Modus Advisors LLC purchased a new stake in Visa during the fourth quarter worth about $32,000. West Financial Advisors LLC lifted its position in shares of Visa by 101.4% during the third 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. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Visa by 79.0% in the third quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock valued at $49,000 after purchasing an additional 79 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.9 %

Visa stock opened at $319.97 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The stock has a market capitalization of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $313.16 and a two-hundred day moving average of $288.06.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company posted $2.33 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.74%. 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. Visa’s dividend payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. Susquehanna increased their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $331.92.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa 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 directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.