Altus Wealth Group LLC Purchases 152 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Altus Wealth Group LLC grew its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,187 shares of the credit-card processor’s stock after acquiring an additional 152 shares during the quarter. Visa comprises approximately 1.0% of Altus Wealth Group LLC’s holdings, making the stock its 24th largest holding. Altus Wealth Group LLC’s holdings in Visa were worth $2,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. State Street Corp lifted its stake in shares of Visa by 4.5% in the 3rd 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 during the last quarter. FMR LLC raised its holdings in Visa by 6.1% during the 3rd 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 period. Geode Capital Management LLC lifted its position in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Visa by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after buying an additional 718,558 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Visa by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after acquiring an additional 123,927 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V stock opened at $331.72 on Friday. The stock’s 50-day moving average is $337.96 and its 200 day moving average is $310.90. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $616.26 billion, a P/E ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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%. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was 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. In the last quarter, insiders sold 103,855 shares of company stock worth $35,165,827. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on V shares. Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. UBS Group raised their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

View Our Latest Stock Report on Visa

About Visa

(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.

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