Abound Financial LLC Makes New Investment in Visa Inc. (NYSE:V)

Abound Financial LLC bought a new stake in shares of Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel reports. The fund bought 1,363 shares of the credit-card processor’s stock, valued at approximately $431,000.

A number of other hedge funds also recently made changes to their positions in V. Elevation Wealth Partners LLC grew its holdings in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Warther Private Wealth LLC lifted its position in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. grew its stake in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after buying an additional 30 shares in the last quarter. Crescent Grove Advisors LLC increased its holdings in shares of Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after buying an additional 31 shares during the last quarter. Finally, Vicus Capital raised its position in shares of Visa by 3.1% during the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after buying an additional 31 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays upped their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock worth $19,161,447 in the last 90 days. Insiders own 0.13% of the company’s stock.

Visa Price Performance

V stock opened at $349.46 on Tuesday. The firm has a 50-day moving average of $329.81 and a 200 day moving average of $303.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $649.21 billion, a P/E ratio of 35.23, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15.

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

Visa Dividend Announcement

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

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.