Strid Group LLC Purchases New Holdings in Visa Inc. (NYSE:V)

Strid Group LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, Holdings Channel.com reports. The fund purchased 672 shares of the credit-card processor’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the period. State Street Corp increased its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the last quarter. FMR LLC raised its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC lifted its holdings in Visa by 7.7% during the 3rd 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 purchasing an additional 2,772,549 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Visa during the third quarter worth $268,640,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.9 %

Shares of NYSE V opened at $351.26 on Tuesday. The company has a market cap of $652.56 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.32 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $351.90. The stock has a 50-day moving average price of $321.08 and a two-hundred day moving average price of $296.19.

Visa (NYSE:V) last released 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 forecast that Visa Inc. will post 11.27 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 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. TD Cowen increased their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’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 value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’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 transaction, the insider now owns 36,566 shares of the company’s stock, 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. Insiders have sold a total of 58,056 shares of company stock valued at $19,830,050 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

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.