Whitaker Myers Wealth Managers LTD. Acquires 739 Shares of Visa Inc. (NYSE:V)

Whitaker Myers Wealth Managers LTD. raised its holdings in shares of Visa Inc. (NYSE:V) by 98.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,493 shares of the credit-card processor’s stock after purchasing an additional 739 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Visa were worth $472,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new position in Visa during the fourth quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter valued at $26,000. Modus Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at $32,000. Reston Wealth Management LLC acquired a new stake in Visa during the 3rd quarter worth $31,000. Finally, West Financial Advisors LLC grew its stake in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on V. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets upped their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Citigroup lifted their price target on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Price Performance

Shares of V opened at $319.97 on Tuesday. The company’s 50-day moving average is $313.41 and its 200-day moving average is $288.73. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $596.06 billion, a PE ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.74%. Visa’s payout ratio is 24.25%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.