Hanson & Doremus Investment Management boosted its position in Visa Inc. (NYSE:V – Get Rating) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,936 shares of the credit-card processor’s stock after acquiring an additional 1,926 shares during the period. Visa accounts for about 0.7% of Hanson & Doremus Investment Management’s holdings, making the stock its 28th biggest position. Hanson & Doremus Investment Management’s holdings in Visa were worth $3,103,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in shares of Visa in the third quarter worth approximately $26,000. Global Wealth Strategies & Associates purchased a new stake in shares of Visa in the fourth quarter worth approximately $26,000. Cowa LLC purchased a new stake in shares of Visa in the third quarter worth approximately $29,000. JDM Financial Group LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $31,000. Institutional investors own 81.87% of the company’s stock.
Insider Activity at Visa
In related news, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the sale, the insider now owns 232,112 shares in the company, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,312 shares of company stock valued at $33,751,165. Company insiders own 0.22% of the company’s stock.
Visa Price Performance
Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the company earned $1.81 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 8.43 EPS for the current year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a dividend of $0.45 per share. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 annualized dividend and a yield of 0.81%. Visa’s dividend payout ratio (DPR) is currently 25.17%.
Analyst Upgrades and Downgrades
V has been the subject of several analyst reports. Truist Financial increased their price objective on Visa from $235.00 to $260.00 in a research note on Friday, January 20th. JPMorgan Chase & Co. increased their price target on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Morgan Stanley increased their price target on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Credit Suisse Group increased their price target on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Finally, Robert W. Baird increased their price target on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.
Visa Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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