OneAscent Financial Services LLC Purchases 2,697 Shares of Visa Inc. (NYSE:V)

OneAscent Financial Services LLC raised its holdings in Visa Inc. (NYSE:V) by 50.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,005 shares of the credit-card processor’s stock after acquiring an additional 2,697 shares during the quarter. OneAscent Financial Services LLC’s holdings in Visa were worth $2,530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. State Street Corp grew its stake in Visa by 4.5% in the third 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. Geode Capital Management LLC increased its position in shares of Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Norges Bank bought a new stake in shares of Visa during the 4th quarter worth approximately $5,171,271,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock valued at $3,868,646,000 after buying an additional 718,558 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $346.80 on Wednesday. The company has a 50 day moving average of $344.68 and a 200-day moving average of $316.37. The company has a market cap of $644.28 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 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 $366.54.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share 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%. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is currently 23.79%.

Insiders Place Their Bets

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. 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 39,350 shares of Visa stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $8,991,249.33. This represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America upped 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. Wells Fargo & Company raised their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $355.84.

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.