Cumberland Advisors Inc. Takes Position in Visa Inc. (NYSE:V)

by · The Markets Daily

Cumberland Advisors Inc. bought a new stake in Visa Inc. (NYSE:V – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 640 shares of the credit-card processor’s stock, valued at approximately $202,000.

A number of other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new position in Visa in the 3rd quarter worth approximately $26,000. Modus Advisors LLC bought a new position in Visa in the 4th quarter worth approximately $32,000. Reston Wealth Management LLC bought a new position in Visa in the 3rd quarter worth approximately $31,000. West Financial Advisors LLC raised its position in Visa by 101.4% in 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 during the last quarter. Finally, Fairway Wealth LLC bought a new position in Visa in the 2nd quarter worth approximately $39,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Susquehanna upped their target price on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.70.

Check Out Our Latest Analysis on V

Visa Stock Up 0.3 %

Shares of Visa stock traded up $1.07 during trading hours on Wednesday, reaching $312.74. 5,160,690 shares of the company’s stock were exchanged, compared to its average volume of 5,239,492. The company has a 50 day moving average of $310.90 and a two-hundred day moving average of $286.27. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $582.60 billion, a P/E ratio of 32.14, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the business posted $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Profile

(Free Report)

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.

See Also

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