IMG Wealth Management Inc. Makes New Investment in Visa Inc. (NYSE:V)

IMG Wealth Management Inc. bought a new position in Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 471 shares of the credit-card processor’s stock, valued at approximately $149,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Raymond James Financial Inc. purchased a new stake in Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC raised its holdings in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. State Street Corp raised 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 valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC raised its holdings in shares of Visa by 6.1% during 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 purchasing an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0 %

Shares of NYSE V opened at $331.72 on Monday. The stock has a market cap of $616.26 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.33 and a beta of 0.95. The firm has a 50 day moving average price of $337.96 and a 200 day moving average price of $311.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,855 shares of company stock valued at $35,165,827 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Piper Sandler reiterated an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Bank of America raised their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $353.96.

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.