Gratus Capital LLC Acquires New Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

Gratus Capital LLC bought a new position in Visa Inc. (NYSE:V – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,184 shares of the credit-card processor’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Investment Management increased its position in shares of Visa by 3.6% during the fourth quarter. Triad Investment Management now owns 9,188 shares of the credit-card processor’s stock worth $1,909,000 after acquiring an additional 316 shares during the period. Hartford Funds Management Co LLC bought a new position in Visa during the 4th quarter worth about $303,000. Blue Zone Wealth Advisors LLC increased its position in Visa by 0.8% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 22,806 shares of the credit-card processor’s stock valued at $4,738,000 after purchasing an additional 185 shares during the period. Summit Place Financial Advisors LLC increased its position in Visa by 11.0% during the 4th quarter. Summit Place Financial Advisors LLC now owns 11,461 shares of the credit-card processor’s stock valued at $2,381,000 after purchasing an additional 1,136 shares during the period. Finally, Destiny Wealth Partners LLC raised its holdings in shares of Visa by 5.6% in the 4th quarter. Destiny Wealth Partners LLC now owns 1,780 shares of the credit-card processor’s stock valued at $370,000 after purchasing an additional 94 shares in the last quarter. 81.87% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V opened at $225.99 on Friday. 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 stock has a 50-day moving average of $223.74 and a two-hundred day moving average of $210.95. The stock has a market cap of $425.09 billion, a P/E ratio of 31.61, a P/E/G ratio of 1.77 and a beta of 0.96. Visa Inc. has a one year low of $174.60 and a one year high of $234.30.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.81 EPS. As a group, research analysts predict that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.80%. 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. Visa’s dividend payout ratio is presently 25.17%.

Insiders Place Their Bets

In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of Visa stock in a transaction on Friday, February 24th. The shares were sold at an average price of $219.00, for a total value of $2,933,286.00. Following the completion of the transaction, the general counsel now owns 4,583 shares of the company’s stock, valued at $1,003,677. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,312 shares of company stock valued at $33,751,165. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on V. UBS Group cut their price objective on shares of Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a report on Thursday, December 15th. Wells Fargo & Company lifted their price target on Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Truist Financial raised their price objective on Visa from $235.00 to $260.00 in a research report on Friday, January 20th. Finally, Wolfe Research boosted their target price on shares of Visa from $240.00 to $255.00 in a report on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.11.

Visa 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).