Spartan Planning & Wealth Management Acquires Shares of 3,042 Visa Inc. (NYSE:V)

Spartan Planning & Wealth Management bought a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 3,042 shares of the credit-card processor’s stock, valued at approximately $961,000. Visa makes up approximately 0.9% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 25th biggest position.

A number of other institutional investors also recently modified their holdings of V. Custom Index Systems LLC bought a new position in shares of Visa in the 3rd quarter valued at about $731,000. Copley Financial Group Inc. bought a new position in shares of Visa during the third quarter worth approximately $616,000. FORA Capital LLC acquired a new stake in shares of Visa during the 3rd quarter worth $7,987,000. Chicago Capital LLC raised its position in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC lifted its position in shares of Visa by 5,034.0% during the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction 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 completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on V shares. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Citigroup boosted their price target on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Macquarie lifted their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.70.

Visa Trading Down 0.1 %

Visa stock traded down $0.17 during mid-day trading on Tuesday, hitting $312.87. The company’s stock had a trading volume of 2,296,708 shares, compared to its average volume of 4,604,742. The stock’s fifty day moving average is $310.30 and its two-hundred day moving average is $286.01. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $582.84 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61.

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, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the business earned $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 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.