Innova Wealth Partners Buys New Holdings in Visa Inc. (NYSE:V)

Innova Wealth Partners bought a new position in Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel.com reports. The firm bought 984 shares of the credit-card processor’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new position in shares of Visa during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter valued at $31,000. Modus Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at $32,000. Fairway Wealth LLC bought a new stake in shares of Visa in the 2nd quarter worth about $39,000. Finally, West Financial Advisors LLC increased its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on V shares. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays increased their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Mizuho lifted their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $329.70.

Visa Stock Down 0.4 %

Visa stock opened at $311.84 on Wednesday. The firm has a market capitalization of $580.92 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.11 and a beta of 0.96. The company’s 50 day simple moving average is $310.90 and its 200 day simple moving average is $286.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.