Visa Inc. (NYSE:V) Shares Bought by Tuttle Capital Management LLC

Tuttle Capital Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 34.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,312 shares of the credit-card processor’s stock after purchasing an additional 336 shares during the period. Visa accounts for about 2.4% of Tuttle Capital Management LLC’s portfolio, making the stock its 13th largest position. Tuttle Capital Management LLC’s holdings in Visa were worth $415,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wulff Hansen & CO. boosted its stake in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after acquiring an additional 1,582,074 shares in the last quarter. WealthPLAN Partners LLC boosted its position in Visa by 1.8% during the second quarter. WealthPLAN Partners LLC now owns 14,183 shares of the credit-card processor’s stock worth $3,723,000 after purchasing an additional 254 shares in the last quarter. Luts & Greenleigh Group Inc. purchased a new position in shares of Visa in the second quarter valued at $335,000. Lmcg Investments LLC lifted its holdings in shares of Visa by 1.7% in the second quarter. Lmcg Investments LLC now owns 73,016 shares of the credit-card processor’s stock valued at $19,165,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Excalibur Management Corp grew its position in shares of Visa by 0.9% in the second quarter. Excalibur Management Corp now owns 13,407 shares of the credit-card processor’s stock valued at $3,519,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.8 %

V opened at $309.24 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The firm has a 50 day moving average price of $312.76 and a 200 day moving average price of $287.65. 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 company has a market cap of $576.08 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released 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 company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. Sell-side analysts expect that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.25%.

Insiders Place Their Bets

In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction 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 owns 17,894 shares of the company’s stock, valued at $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. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on V. Citigroup lifted their price objective on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets raised their price target on shares of Visa from $310.00 to $320.00 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-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

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.