Worth Asset Management LLC Has $633,000 Stock Position in Visa Inc. (NYSE:V)

Worth Asset Management LLC grew its position in Visa Inc. (NYSE:V) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,003 shares of the credit-card processor’s stock after purchasing an additional 79 shares during the period. Worth Asset Management LLC’s holdings in Visa were worth $633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterneck Capital Management LLC bought a new stake in Visa during the fourth quarter worth approximately $248,000. Innova Wealth Partners bought a new stake in Visa during the fourth quarter valued at about $311,000. Legend Financial Advisors Inc. grew its position in shares of Visa by 1,558.0% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,658 shares of the credit-card processor’s stock valued at $524,000 after purchasing an additional 1,558 shares during the last quarter. One Wealth Capital Management LLC bought a new position in shares of Visa in the fourth quarter worth about $2,012,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Visa during the 4th quarter worth about $961,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on V. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Up 0.4 %

NYSE V traded up $1.33 during trading hours on Wednesday, hitting $313.00. 2,102,745 shares of the company traded hands, compared to its average volume of 4,628,141. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business’s 50-day moving average is $310.90 and its 200-day moving average is $286.27. The stock has a market capitalization of $583.08 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.11 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was 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 in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 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.