Fortitude Family Office LLC Boosts Stake in Visa Inc. (NYSE:V)

Fortitude Family Office LLC raised its position in Visa Inc. (NYSE:V) by 69.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,587 shares of the credit-card processor’s stock after purchasing an additional 1,058 shares during the quarter. Fortitude Family Office LLC’s holdings in Visa were worth $818,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth $32,000. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth $31,000. West Financial Advisors LLC raised its stake in shares of Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 73 shares in the last quarter. Finally, Fairway Wealth LLC purchased a new position in Visa in the second quarter valued at $39,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.3 %

V opened at $312.74 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The business has a 50 day moving average price of $311.80 and a two-hundred day moving average price of $286.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $582.60 billion, a PE ratio of 32.14, a P/E/G ratio of 2.11 and a beta of 0.96.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is presently 24.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Susquehanna increased their target price on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.85.

Visa Company 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.