Gemmer Asset Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,865 shares of the credit-card processor’s stock after selling 184 shares during the period. Gemmer Asset Management LLC’s holdings in Visa were worth $1,221,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the business. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new stake in Visa during the 3rd quarter valued at $26,000. Modus Advisors LLC purchased a new stake in shares of Visa in the 4th quarter worth $32,000. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter worth $31,000. Finally, West Financial Advisors LLC increased its stake in shares of Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares during the period. Institutional investors own 82.15% of the company’s stock.
Visa Stock Performance
Shares of NYSE V opened at $323.76 on Wednesday. The stock has a market cap of $603.12 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.15 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $324.58. The company has a 50 day simple moving average of $313.59 and a two-hundred day simple moving average of $289.09. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.
Visa Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.
Analysts Set New Price Targets
A number of analysts recently weighed in on V shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $331.92.
Read Our Latest Report on Visa
Insider Buying and Selling at Visa
In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 currently owned by corporate insiders.
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.
Recommended Stories
- Five stocks we like better than Visa
- How to Invest in Insurance Companies: A Guide
- SAP’s Strong Momentum: A Bullish Setup for Investors
- What Are Some of the Best Large-Cap Stocks to Buy?
- BlackRock Breaks Records: Why the Stock Still Has Room to Run
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- Duke vs. NRG: Which Energy Stock Will Power Higher Gains?
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.