Drive Wealth Management LLC Raises Holdings in Visa Inc. (NYSE:V)

Drive Wealth Management LLC boosted its stake in Visa Inc. (NYSE:V) by 13.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,082 shares of the credit-card processor’s stock after buying an additional 594 shares during the quarter. Drive Wealth Management LLC’s holdings in Visa were worth $1,606,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC grew its position in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after purchasing an additional 31 shares in the last quarter. Phoenix Wealth Advisors grew its holdings in shares of Visa by 3.4% during the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after buying an additional 32 shares in the last quarter. Unionview LLC raised its position in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after buying an additional 33 shares during the period. Forza Wealth Management LLC lifted its stake in Visa by 2.9% in the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 33 shares in the last quarter. Finally, Presilium Private Wealth LLC boosted its position in Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred 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 directly 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 position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna increased their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays increased their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler boosted their target price on Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $335.52.

Visa Price Performance

Shares of NYSE:V opened at $334.80 on Wednesday. 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 business has a 50 day moving average price of $315.39 and a 200 day moving average price of $291.29. The company has a market cap of $623.69 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.17 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $337.83.

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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. Research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

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.