Verus Wealth Management LLC Buys New Shares in Visa Inc. (NYSE:V)

Verus Wealth Management LLC bought a new stake in Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 782 shares of the credit-card processor’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in Visa during the third quarter worth $26,000. Decker Retirement Planning Inc. bought a new position in Visa during the fourth quarter worth $26,000. Reston Wealth Management LLC bought a new position in Visa during the third quarter worth $31,000. Modus Advisors LLC bought a new position in Visa during the fourth quarter worth $32,000. Finally, West Financial Advisors LLC boosted its position in Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s 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 sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on V shares. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup lifted their target price on Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $352.27.

Visa Stock Performance

NYSE:V opened at $342.05 on Friday. The stock has a market cap of $637.19 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average is $317.09 and its 200-day moving average is $292.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $351.25.

Visa (NYSE:V) last released 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 53.16% and a net margin of 54.96%. Equities research analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.