Modern Wealth Management LLC Purchases 3,264 Shares of Visa Inc. (NYSE:V)

Modern Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 64.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,358 shares of the credit-card processor’s stock after acquiring an additional 3,264 shares during the period. Modern Wealth Management LLC’s holdings in Visa were worth $2,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC increased its stake in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after buying an additional 29 shares during the period. Elevation Wealth Partners LLC lifted its position in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC boosted its stake in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after buying an additional 30 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. raised its stake in Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday. Bank of America increased their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa Price Performance

V opened at $344.95 on Wednesday. The firm’s fifty day moving average price is $341.94 and its two-hundred day moving average price is $314.21. The company has a market capitalization of $640.84 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings data 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 net margin of 54.27% and a return on equity of 54.79%. As a group, analysts anticipate 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. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insiders Place Their Bets

In other news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock valued at $48,560,961. Insiders own 0.13% of the company’s stock.

About Visa

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.