Broadway Wealth Solutions Inc. Invests $419,000 in Visa Inc. (NYSE:V)

Broadway Wealth Solutions Inc. purchased a new position in Visa Inc. (NYSE:V) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,325 shares of the credit-card processor’s stock, valued at approximately $419,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. State Street Corp boosted its position 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 valued at $21,064,179,000 after buying an additional 3,327,977 shares during the period. Geode Capital Management LLC increased its holdings in 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 last quarter. Norges Bank acquired a new stake in Visa during the 4th quarter worth $5,171,271,000. Finally, Charles Schwab Investment Management Inc. grew its position in Visa by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after purchasing an additional 718,558 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $349.82 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The stock has a market capitalization of $649.89 billion, a P/E ratio of 35.26, a P/E/G ratio of 2.33 and a beta of 0.95. The firm’s 50-day moving average is $343.15 and its two-hundred day moving average is $314.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock worth $48,560,961. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several research reports. Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Morgan Stanley upped their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $355.84.

Visa 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.