Marion Wealth Management Takes $212,000 Position in Visa Inc. (NYSE:V)

Marion Wealth Management purchased a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 671 shares of the credit-card processor’s stock, valued at approximately $212,000.

Several other hedge funds also recently added to or reduced their stakes in V. State Street Corp boosted its stake in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC lifted its holdings in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC boosted its position in Visa by 7.7% in the 3rd 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. Ameriprise Financial Inc. grew its stake in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

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

Visa Price Performance

NYSE V opened at $306.59 on Tuesday. The stock’s fifty day moving average price is $312.44 and its 200 day moving average price is $287.32. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $571.14 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm 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 company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on V shares. Oppenheimer boosted their price target on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $330.85.

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.