Heritage Wealth Management Inc. CA Invests $248,000 in Visa Inc. (NYSE:V)

Heritage Wealth Management Inc. CA acquired a new stake in Visa Inc. (NYSE:V) during the 4th quarter, Holdings Channel.com reports. The firm acquired 784 shares of the credit-card processor’s stock, valued at approximately $248,000.

Several other hedge funds have also recently bought and sold shares of the company. Howard Capital Management Group LLC grew its holdings in shares of Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after acquiring an additional 411,210 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Visa during the third quarter worth $1,778,000. Fisher Asset Management LLC raised its stake in shares of Visa by 2.1% in the third quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock valued at $2,635,317,000 after acquiring an additional 196,891 shares in the last quarter. Finally, Prosperity Financial Group Inc. boosted its holdings in Visa by 5.2% in the third quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock valued at $1,342,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction that occurred on 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 143,205 shares of company stock valued at $48,560,961 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of V opened at $343.96 on Tuesday. The firm has a market capitalization of $639.00 billion, a PE ratio of 34.67, a P/E/G ratio of 2.33 and a beta of 0.95. The stock’s 50 day moving average is $341.23 and its two-hundred day moving average is $313.75. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. The Goldman Sachs Group increased their price target on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

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.