Signature Wealth Management Group Acquires Shares of 681 Visa Inc. (NYSE:V)

by · The Markets Daily

Signature Wealth Management Group acquired a new stake in shares of Visa Inc. (NYSE:V – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 681 shares of the credit-card processor’s stock, valued at approximately $215,000.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC lifted 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 worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 7.7% during the 3rd 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. lifted its holdings in Visa by 6.2% during the 4th 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 1.1% in the 3rd 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 worth $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company raised their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Check Out Our Latest Stock Analysis on V

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock valued at $35,165,827 over the last quarter. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $331.72 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $616.26 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95. The stock’s fifty day simple moving average is $337.96 and its 200 day simple moving average is $310.90. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V – Get Free Report) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Visa Company 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.

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