Brooklyn FI LLC Takes $454,000 Position in Visa Inc. (NYSE:V)

Brooklyn FI LLC purchased a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,520 shares of the credit-card processor’s stock, valued at approximately $454,000.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Riverstone Advisors LLC purchased a new stake in Visa during the 4th quarter worth approximately $217,000. Journey Strategic Wealth LLC increased its stake in Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after buying an additional 1,361 shares during the period. King Wealth Management Group increased its stake in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Visa during the 4th quarter worth approximately $10,163,000. Finally, Copley Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth approximately $616,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on V shares. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Susquehanna boosted their price target on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Thursday. Six 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,855 shares of company stock worth $35,165,827. 0.13% of the stock is owned by insiders.

Visa Stock Up 1.5 %

V stock opened at $339.92 on Thursday. The company has a market cap of $631.50 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth 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. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a fifty day moving average price of $339.38 and a 200 day moving average price of $312.21.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 0.69%. Visa’s payout ratio is currently 23.79%.

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.