Jessup Wealth Management Inc Has $1.47 Million Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

Jessup Wealth Management Inc reduced its holdings in Visa Inc. (NYSE:V – Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,645 shares of the credit-card processor’s stock after selling 136 shares during the quarter. Visa makes up approximately 0.6% of Jessup Wealth Management Inc’s holdings, making the stock its 29th largest holding. Jessup Wealth Management Inc’s holdings in Visa were worth $1,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of V. Swedbank AB raised its position in Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after purchasing an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC raised its position in Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after purchasing an additional 610 shares during the last quarter. Monte Financial Group LLC raised its position in Visa by 2.9% in the 3rd quarter. Monte Financial Group LLC now owns 5,567 shares of the credit-card processor’s stock worth $1,531,000 after purchasing an additional 155 shares during the last quarter. RAM Investment Partners LLC raised its position in shares of Visa by 3.5% during the 3rd quarter. RAM Investment Partners LLC now owns 1,904 shares of the credit-card processor’s stock valued at $524,000 after acquiring an additional 64 shares during the last quarter. Finally, McAdam LLC raised its position in shares of Visa by 2.9% during the 3rd quarter. McAdam LLC now owns 3,345 shares of the credit-card processor’s stock valued at $920,000 after acquiring an additional 95 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.6 %

Visa stock opened at $348.27 on Friday. The firm has a 50-day moving average of $329.14 and a 200-day moving average of $302.03. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. 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 $647.01 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.36 and a beta of 0.97.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Royal Bank of Canada upped their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Morgan Stanley upped their price objective 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. Finally, Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $355.31.

Check Out Our Latest Analysis on V

Insider Transactions at Visa

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 value of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This represents a 34.19 % 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, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 in the last three months. Insiders own 0.13% of the company’s stock.

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.

Further Reading

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