Towerpoint Wealth LLC Has $290,000 Stake in Visa Inc. (NYSE:V)

Towerpoint Wealth LLC lessened its stake in Visa Inc. (NYSE:V) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 919 shares of the credit-card processor’s stock after selling 84 shares during the quarter. Towerpoint Wealth LLC’s holdings in Visa were worth $290,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in Visa in the 3rd quarter worth about $26,000. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter valued at approximately $31,000. Modus Advisors LLC bought a new stake in Visa during the fourth quarter worth $32,000. West Financial Advisors LLC boosted its position in Visa by 101.4% in 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 during the last quarter. Finally, Global Wealth Strategies & Associates grew its stake in Visa by 79.0% in the 3rd 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. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $319.97 on Friday. The stock has a market cap 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 quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $313.16 and a 200 day simple moving average of $288.06. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share 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 company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. Macquarie lifted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets raised their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $331.92.

Insider Buying and Selling

In other Visa 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, 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 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.