Palumbo Wealth Management LLC Has $4.95 Million Holdings in Visa Inc. (NYSE:V)

Palumbo Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,667 shares of the credit-card processor’s stock after buying an additional 1,083 shares during the quarter. Visa comprises approximately 1.8% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Palumbo Wealth Management LLC’s holdings in Visa were worth $4,952,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of V. Peterson Financial Group Inc. acquired a new stake in Visa in the third quarter worth $26,000. Decker Retirement Planning Inc. acquired a new position in Visa during the 4th quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in Visa in the third quarter worth approximately $31,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in Visa in the fourth quarter valued at approximately $32,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated 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 directly owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $356.04 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $356.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The stock’s fifty day moving average price is $326.05 and its two-hundred day moving average price is $300.04. The firm has a market cap of $661.45 billion, a PE ratio of 35.89, a PEG ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts forecast that Visa Inc. will post 11.27 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on V shares. Macquarie increased their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Susquehanna lifted their price objective on shares of Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Visa 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.