E Fund Management Co. Ltd. Buys 7,630 Shares of Visa Inc. (NYSE:V)

E Fund Management Co. Ltd. raised its stake in shares of Visa Inc. (NYSE:V) by 69.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,580 shares of the credit-card processor’s stock after buying an additional 7,630 shares during the period. E Fund Management Co. Ltd.’s holdings in Visa were worth $5,872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa during the fourth quarter valued at about $27,000. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter worth about $26,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $32,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on V. Piper Sandler restated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Raymond James restated an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Barclays increased their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued 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 target price of $353.96.

Visa Stock Down 2.5 %

NYSE V opened at $343.81 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a market capitalization of $638.72 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.33 and a beta of 0.95. The company has a fifty day moving average of $335.63 and a two-hundred day moving average of $307.80.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

Insider Buying and Selling at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 in the last quarter. 0.13% of the stock is owned by insiders.

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.