Florida Financial Advisors LLC Grows Stock Position in Visa Inc. (NYSE:V)

Florida Financial Advisors LLC increased its position in shares of Visa Inc. (NYSE:V) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 5,051 shares of the credit-card processor’s stock after purchasing an additional 581 shares during the period. Visa accounts for approximately 0.7% of Florida Financial Advisors LLC’s portfolio, making the stock its 27th largest position. Florida Financial Advisors LLC’s holdings in Visa were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Riverstone Advisors LLC purchased a new position in shares of Visa in the fourth quarter worth about $217,000. Journey Strategic Wealth LLC boosted its holdings in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Visa during the fourth quarter worth $10,163,000. Finally, Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter valued at about $616,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were 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 SEC, which can be accessed through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $343.96 on Tuesday. The stock’s 50-day simple moving average is $341.23 and its 200-day simple moving average is $313.75. The firm has a market capitalization of $639.00 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday. Bank of America lifted their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa 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.