Coign Capital Advisors LLC Invests $962,000 in Visa Inc. (NYSE:V)

Coign Capital Advisors LLC acquired a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,043 shares of the credit-card processor’s stock, valued at approximately $962,000. Visa comprises about 0.9% of Coign Capital Advisors LLC’s portfolio, making the stock its 26th largest position.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Visa in the fourth quarter valued at approximately $5,171,271,000. Vanguard Group Inc. boosted its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Visa in the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC raised its holdings in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,205 shares of company stock valued at $48,842,490. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $324.57 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $602.97 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company’s 50-day simple moving average is $342.63 and its 200-day simple moving average is $318.32.

Visa (NYSE:V) last posted its quarterly 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 net margin of 54.27% and a return on equity of 54.79%. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group increased their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” 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 research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $355.84.

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.