Intact Investment Management Inc. Purchases 2,100 Shares of Visa Inc. (NYSE:V)

Intact Investment Management Inc. grew its position in shares of Visa Inc. (NYSE:V) by 20.4% in the 4th quarter, HoldingsChannel reports. The fund owned 12,400 shares of the credit-card processor’s stock after buying an additional 2,100 shares during the period. Intact Investment Management Inc.’s holdings in Visa were worth $3,919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new position in shares of Visa during the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $27,000. Peterson Financial Group Inc. purchased a new position in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC boosted its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $32,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $331.72 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The firm has a market cap of $616.26 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95. The business’s fifty day moving average is $337.96 and its 200 day moving average is $310.62.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Bank of America boosted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insiders Place Their Bets

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated 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 in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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. Insiders have sold 103,855 shares of company stock worth $35,165,827 in the last ninety days. 0.13% of the stock is currently owned by insiders.

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.