Mattern Wealth Management LLC Has $3.32 Million Holdings in Visa Inc. (NYSE:V)

Mattern Wealth Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,497 shares of the credit-card processor’s stock after selling 141 shares during the period. Visa accounts for approximately 0.7% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Mattern Wealth Management LLC’s holdings in Visa were worth $3,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. State Street Corp raised its holdings in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC increased its position in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after acquiring an additional 670,590 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer raised their target price on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $335.52.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Visa stock opened at $343.26 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $639.46 billion, a PE ratio of 35.28, a P/E/G ratio of 2.17 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $344.44. The business’s 50-day moving average price is $316.43 and its two-hundred day moving average price is $292.09.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is 24.25%.

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.