Drive Wealth Management LLC Increases Position in Visa Inc. (NYSE:V)

Drive Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,082 shares of the credit-card processor’s stock after purchasing an additional 594 shares during the quarter. Drive Wealth Management LLC’s holdings in Visa were worth $1,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Narwhal Capital Management raised its stake in Visa by 6.9% in the fourth quarter. Narwhal Capital Management now owns 49,432 shares of the credit-card processor’s stock valued at $15,623,000 after buying an additional 3,209 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Visa by 16.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 24,868 shares of the credit-card processor’s stock valued at $7,859,000 after acquiring an additional 3,523 shares during the last quarter. Stablepoint Partners LLC raised its position in shares of Visa by 0.9% during the 4th quarter. Stablepoint Partners LLC now owns 7,256 shares of the credit-card processor’s stock worth $2,293,000 after acquiring an additional 68 shares in the last quarter. M3 Advisory Group LLC lifted its stake in Visa by 1.9% during the fourth quarter. M3 Advisory Group LLC now owns 1,958 shares of the credit-card processor’s stock worth $619,000 after purchasing an additional 37 shares during the last quarter. Finally, Harrell Investment Partners LLC boosted its holdings in Visa by 1.1% in the fourth quarter. Harrell Investment Partners LLC now owns 15,829 shares of the credit-card processor’s stock valued at $5,003,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Susquehanna boosted their price target on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Barclays raised their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler raised their price target on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $335.52.

Visa Stock Performance

Shares of V stock opened at $334.80 on Wednesday. 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 simple moving average of $315.39 and a 200-day simple moving average of $291.29. The company has a market cap of $623.69 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $337.83.

Visa (NYSE:V) last released its quarterly earnings data 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. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Insider Transactions at Visa

In related news, 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 transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’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 disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.