New Millennium Group LLC Has $1.97 Million Position in Visa Inc. (NYSE:V)

New Millennium Group LLC increased its holdings in Visa Inc. (NYSE:V) by 63.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,239 shares of the credit-card processor’s stock after purchasing an additional 2,415 shares during the quarter. Visa makes up 1.2% of New Millennium Group LLC’s investment portfolio, making the stock its 23rd biggest holding. New Millennium Group LLC’s holdings in Visa were worth $1,972,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the 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 transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Up 1.2 %

NYSE:V opened at $345.92 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The firm’s 50-day moving average price is $317.74 and its 200-day moving average price is $293.27. The company has a market capitalization of $644.41 billion, a PE ratio of 34.87, a P/E/G ratio of 2.30 and a beta of 0.97. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $351.25.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities analysts predict that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on V. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna lifted their target price on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Raymond James reaffirmed an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a report on Friday. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.