Waterway Wealth Management LLC Takes Position in Visa Inc. (NYSE:V)

Waterway Wealth Management LLC purchased a new stake in Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 733 shares of the credit-card processor’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC raised its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Visa by 1.1% in the third 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 valued at $3,188,862,000 after buying an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Visa by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after buying an additional 670,590 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $363.33 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $674.99 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The firm’s fifty day simple moving average is $333.03 and its two-hundred day simple moving average is $305.66. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $364.00.

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 net margin of 54.27% and a return on equity of 54.79%. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Buying and Selling at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’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 completion of the sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays boosted their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Bank of America boosted their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

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.