SVB Wealth LLC Takes Position in Visa Inc. (NYSE:V)

SVB Wealth LLC bought a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 91,048 shares of the credit-card processor’s stock, valued at approximately $28,775,000. Visa makes up 0.5% of SVB Wealth LLC’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC boosted its position in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC grew its holdings in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after buying an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after acquiring an additional 670,590 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. UBS Group increased their price objective on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Susquehanna upped their target price on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group lifted their price target on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock valued at $19,161,447 in the last three months. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $363.33 on Friday. The stock has a fifty day moving average of $333.03 and a 200-day moving average of $305.66. The stock has a market cap of $674.99 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. 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 fifty-two week low of $252.70 and a fifty-two week high of $364.00.

Visa (NYSE:V) last announced 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 return on equity of 54.79% and a net margin of 54.27%. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

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.