Founders Grove Wealth Partners LLC Takes $1.07 Million Position in Visa Inc. (NYSE:V)

Founders Grove Wealth Partners LLC acquired a new position in Visa Inc. (NYSE:V) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,370 shares of the credit-card processor’s stock, valued at approximately $1,065,000.

Several other institutional investors have also recently made changes to their positions in V. Custom Index Systems LLC purchased a new stake in Visa during the 3rd quarter valued at approximately $731,000. Copley Financial Group Inc. purchased a new position in Visa during the third quarter valued at $616,000. FORA Capital LLC bought a new stake in Visa in the 3rd quarter valued at $7,987,000. Chicago Capital LLC increased its holdings in Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after acquiring an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its stake in Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after purchasing an additional 55,273 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on V shares. Oppenheimer lifted their target price on Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Mizuho increased their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

Visa Stock Up 2.4 %

Shares of V opened at $316.45 on Thursday. The firm has a market capitalization of $589.51 billion, a P/E ratio of 32.52, a P/E/G ratio of 2.06 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The firm has a fifty day moving average price of $312.76 and a 200-day moving average price of $287.65. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

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, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. Equities research analysts expect that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This 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 corporate insiders.

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.