Visa Inc. (NYSE:V) Shares Bought by Overbrook Management Corp

Overbrook Management Corp increased its stake in Visa Inc. (NYSE:V) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 65,857 shares of the credit-card processor’s stock after acquiring an additional 5,012 shares during the period. Visa accounts for approximately 4.5% of Overbrook Management Corp’s holdings, making the stock its 9th largest holding. Overbrook Management Corp’s holdings in Visa were worth $20,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zhang Financial LLC raised its position in Visa by 11.7% in the fourth quarter. Zhang Financial LLC now owns 6,279 shares of the credit-card processor’s stock worth $1,984,000 after acquiring an additional 658 shares in the last quarter. Guinness Asset Management LTD grew its stake in shares of Visa by 9.9% in the 4th quarter. Guinness Asset Management LTD now owns 141,193 shares of the credit-card processor’s stock worth $44,620,000 after purchasing an additional 12,740 shares during the last quarter. Corundum Group Inc. raised its holdings in shares of Visa by 42.1% in the 4th quarter. Corundum Group Inc. now owns 6,543 shares of the credit-card processor’s stock worth $2,068,000 after purchasing an additional 1,937 shares in the last quarter. AMI Investment Management Inc. lifted its stake in Visa by 9.2% during the fourth quarter. AMI Investment Management Inc. now owns 16,104 shares of the credit-card processor’s stock valued at $5,090,000 after purchasing an additional 1,354 shares during the last quarter. Finally, True Link Financial Advisors LLC bought a new stake in Visa during the fourth quarter worth approximately $208,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on V. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price target on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $331.92.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Up 1.3 %

V stock opened at $323.76 on Wednesday. The firm has a market cap of $603.12 billion, a PE ratio of 33.27, a PEG ratio of 2.15 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $324.58. The company has a fifty day simple moving average of $313.59 and a 200 day simple moving average of $289.09. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 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.