Redmond Asset Management LLC Buys 8,549 Shares of Visa Inc. (NYSE:V)

Redmond Asset Management LLC increased its stake in shares of Visa Inc. (NYSE:V) by 49.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,806 shares of the credit-card processor’s stock after purchasing an additional 8,549 shares during the quarter. Visa makes up about 2.0% of Redmond Asset Management LLC’s portfolio, making the stock its 8th largest holding. Redmond Asset Management LLC’s holdings in Visa were worth $8,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in Visa by 4.5% in 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 grew its holdings 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 worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Visa in the 3rd quarter valued at approximately $268,640,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Visa during the 3rd quarter worth approximately $227,342,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

NYSE V opened at $349.46 on Tuesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The business has a 50 day moving average price of $329.81 and a 200-day moving average price of $303.29. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $649.21 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.33 and a beta of 0.97.

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 net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. UBS Group lifted their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Bank of America increased 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. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the business’s 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is owned by 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.