Partners Wealth Management LLC Buys New Position in Visa Inc. (NYSE:V)

Partners Wealth Management LLC bought a new stake in Visa Inc. (NYSE:V) during the fourth quarter, HoldingsChannel.com reports. The fund bought 756 shares of the credit-card processor’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in Visa in the 3rd quarter valued at approximately $26,000. Decker Retirement Planning Inc. acquired a new position in shares of Visa during the 4th quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter worth approximately $31,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock valued at $19,161,447 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Raymond James reaffirmed an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler reiterated 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. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Price Performance

Visa stock opened at $352.00 on Wednesday. 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 Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The stock has a market capitalization of $653.93 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The stock has a fifty day moving average of $330.49 and a 200-day moving average of $303.94.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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 expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Visa Company 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.