Visa Inc. (NYSE:V) Shares Acquired by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,491 shares of the credit-card processor’s stock after buying an additional 2,792 shares during the quarter. Visa comprises about 1.7% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Princeton Global Asset Management LLC’s holdings in Visa were worth $9,320,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC grew its holdings in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after buying an additional 31 shares in the last quarter. Phoenix Wealth Advisors increased its holdings in shares of Visa by 3.4% during the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after buying an additional 32 shares during the last quarter. Unionview LLC raised its holdings in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. Forza Wealth Management LLC lifted its position in Visa by 2.9% during the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after buying an additional 33 shares in the last quarter. Finally, Presilium Private Wealth LLC lifted its holdings in shares of Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after acquiring an additional 33 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,983 shares of company stock valued at $7,213,146 over the last quarter. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $349.27 on Thursday. The stock’s fifty day simple moving average is $319.07 and its 200-day simple moving average is $294.37. The company has a market capitalization of $650.64 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.30 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 1-year low of $252.70 and a 1-year high of $351.25.

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, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, sell-side analysts predict that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler reiterated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

Visa Company 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.