Biltmore Family Office LLC Increases Stock Position in Visa Inc. (NYSE:V)

Biltmore Family Office LLC lifted its position in shares of Visa Inc. (NYSE:V) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,070 shares of the credit-card processor’s stock after purchasing an additional 282 shares during the period. Biltmore Family Office LLC’s holdings in Visa were worth $1,918,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its holdings in shares of Visa by 0.6% during 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 acquiring an additional 610 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in 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 worth $1,576,366,000 after acquiring an additional 411,210 shares during the period. Morse Asset Management Inc acquired a new stake in Visa in the third quarter valued at approximately $69,000. Mission Creek Capital Partners Inc. raised its stake in shares of Visa by 1.0% during the third quarter. Mission Creek Capital Partners Inc. now owns 22,130 shares of the credit-card processor’s stock valued at $6,085,000 after purchasing an additional 215 shares during the period. Finally, Menard Financial Group LLC lifted its position in shares of Visa by 0.6% during the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after purchasing an additional 35 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following 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 disclosure for this sale can be found here. Insiders sold 134,585 shares of company stock worth $45,821,697 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $346.49 on Thursday. The firm’s 50 day moving average is $345.14 and its two-hundred day moving average is $316.58. The firm has a market capitalization of $643.70 billion, a P/E ratio of 34.93, a PEG ratio of 2.33 and a beta of 0.94. 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 52 week low of $252.70 and a 52 week high of $366.54.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating 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%. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, Morgan Stanley raised their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $355.84.

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.