Occidental Asset Management LLC Purchases 465 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 3rd, 2023

Occidental Asset Management LLC grew its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,195 shares of the credit-card processor’s stock after buying an additional 465 shares during the period. Occidental Asset Management LLC’s holdings in Visa were worth $2,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Visa by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after buying an additional 912,545 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Visa by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,261,821 shares of the credit-card processor’s stock worth $10,092,940,000 after purchasing an additional 200,057 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Visa by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after purchasing an additional 1,785,695 shares in the last quarter. Jennison Associates LLC increased its stake in Visa by 0.6% during the 3rd quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock valued at $2,357,438,000 after purchasing an additional 77,186 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Visa by 3.0% in the third quarter. Royal Bank of Canada now owns 13,157,577 shares of the credit-card processor’s stock worth $2,337,444,000 after buying an additional 383,335 shares during the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, insider Rajat Taneja sold 61,721 shares of the business’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 directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 61,721 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the transaction, 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 ninety days, insiders sold 191,312 shares of company stock valued at $33,751,165. 0.22% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V opened at $225.46 on Monday. The company has a market cap of $424.09 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.77 and a beta of 0.97. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $234.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s fifty day moving average is $223.58 and its two-hundred day moving average is $209.88.

Visa (NYSE:V – Get Rating) last issued its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were given a dividend of $0.45 per share. This is an increase from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, February 9th. Visa’s dividend payout ratio is currently 25.17%.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Wolfe Research increased their price target on shares of Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Barclays lifted their target price on Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Sunday, January 29th. JPMorgan Chase & Co. upped their price target on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Wells Fargo & Company lifted their price objective on Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Finally, Mizuho upped their target price on shares of Visa from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.11.

Visa Company Profile

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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).