Provident Wealth Management LLC Makes New $200,000 Investment in Visa Inc. (NYSE:V)

Provident Wealth Management LLC bought a new stake in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 634 shares of the credit-card processor’s stock, valued at approximately $200,000.

Other hedge funds have also recently made changes to their positions in the company. Kirtland Hills Capital Management LLC increased its position in shares of Visa by 2.3% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 13,255 shares of the credit-card processor’s stock valued at $4,189,000 after purchasing an additional 297 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa during the fourth quarter worth $27,000. FFT Wealth Management LLC increased its position in Visa by 40.4% during the fourth quarter. FFT Wealth Management LLC now owns 3,581 shares of the credit-card processor’s stock valued at $1,132,000 after acquiring an additional 1,030 shares during the last quarter. Longbow Finance SA raised its stake in shares of Visa by 49.7% in the fourth quarter. Longbow Finance SA now owns 55,714 shares of the credit-card processor’s stock valued at $17,608,000 after acquiring an additional 18,508 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Visa by 13.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 519,233 shares of the credit-card processor’s stock worth $164,098,000 after acquiring an additional 59,746 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 over the last 90 days. Insiders own 0.13% of the company’s stock.

Visa Trading Up 1.4 %

Shares of NYSE:V opened at $355.56 on Friday. The company has a market capitalization of $660.55 billion, a PE ratio of 35.84, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $360.31. The business’s fifty day simple moving average is $332.12 and its 200-day simple moving average is $304.62.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) 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%. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on V shares. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. The Goldman Sachs Group upped their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. UBS Group upped their price objective on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Six equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $353.96.

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.