Hardy Reed LLC Has $4.42 Million Stock Position in Visa Inc. (NYSE:V)

Hardy Reed LLC grew its position in Visa Inc. (NYSE:V) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,995 shares of the credit-card processor’s stock after purchasing an additional 59 shares during the quarter. Hardy Reed LLC’s holdings in Visa were worth $4,423,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of V. State Street Corp boosted its stake in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC boosted its stake in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC boosted its stake in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Visa during the third quarter worth $268,640,000. Finally, Janney Montgomery Scott LLC bought a new position in Visa during the third quarter worth $227,342,000. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,885 shares of company stock valued at $19,161,447. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $348.27 on Friday. The firm has a 50-day moving average of $329.14 and a 200-day moving average of $302.34. The company has a market cap of $647.01 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $357.15.

Visa (NYSE:V) last announced its 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%. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Barclays increased their target price on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.