Austin Wealth Management LLC Purchases New Shares in Visa Inc. (NYSE:V)

Austin Wealth Management LLC purchased a new position in Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 723 shares of the credit-card processor’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Swedbank AB lifted its holdings in Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC raised its stake in shares of Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares during the period. Pettinga Financial Advisors LLC acquired a new stake in shares of Visa in the 3rd quarter valued at about $228,000. Principal Financial Group Inc. raised its stake in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after purchasing an additional 411,210 shares during the period. Finally, Chartwell Investment Partners LLC raised its stake in shares of Visa by 2.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 25,141 shares of the credit-card processor’s stock valued at $6,913,000 after purchasing an additional 677 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 2.8 %

Shares of V opened at $331.93 on Wednesday. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a market cap of $616.65 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $337.01 and a two-hundred day simple moving average of $309.89.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on V. Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.