Hillsdale Investment Management Inc. Purchases 1,000 Shares of Visa Inc. (NYSE:V)

Hillsdale Investment Management Inc. lifted its holdings in Visa Inc. (NYSE:V) by 49.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,005 shares of the credit-card processor’s stock after acquiring an additional 1,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Visa were worth $950,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Swedbank AB increased its holdings in shares of Visa by 10.7% in the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC boosted 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 valued at $29,242,000 after buying an additional 610 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after buying an additional 411,210 shares during the period. Eagle Asset Management Inc. raised its position in shares of Visa by 14.7% during the third quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after acquiring an additional 4,726 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Visa during the third quarter valued at $1,778,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on V shares. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Down 0.9 %

V opened at $336.51 on Monday. The stock has a market capitalization of $625.15 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The firm’s fifty day simple moving average is $340.48 and its 200 day simple moving average is $313.29.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating 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, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on 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 owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,560,961 over the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Company 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.