Edge Capital Group LLC Boosts Holdings in Visa Inc. (NYSE:V)

Edge Capital Group LLC increased its holdings in Visa Inc. (NYSE:V) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,864 shares of the credit-card processor’s stock after buying an additional 462 shares during the quarter. Edge Capital Group LLC’s holdings in Visa were worth $3,434,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in V. State Street Corp lifted its holdings in Visa by 4.5% during the third 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 in the last quarter. FMR LLC raised its position in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 valued at $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Visa during the third quarter valued at approximately $268,640,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Visa during the third quarter valued at approximately $227,342,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price target 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. Finally, Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Six 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, the stock has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Trading Down 0.4 %

NYSE V opened at $350.61 on Thursday. The company’s 50-day moving average price is $331.31 and its 200-day moving average price is $304.27. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $651.36 billion, a PE ratio of 35.34, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $357.15.

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 net margin of 54.27% and a return on equity of 54.79%. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 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.