Successful Portfolios LLC Invests $247,000 in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

Successful Portfolios LLC acquired a new stake in Visa Inc. (NYSE:V – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,189 shares of the credit-card processor’s stock, valued at approximately $247,000.

Other large investors have also bought and sold shares of the company. Gratus Capital LLC bought a new stake in Visa in the fourth quarter valued at approximately $246,000. Triad Investment Management lifted its position in shares of Visa by 3.6% in the 4th quarter. Triad Investment Management now owns 9,188 shares of the credit-card processor’s stock worth $1,909,000 after purchasing an additional 316 shares during the period. Hartford Funds Management Co LLC bought a new stake in shares of Visa in the 4th quarter valued at $303,000. Blue Zone Wealth Advisors LLC increased its position in shares of Visa by 0.8% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 22,806 shares of the credit-card processor’s stock worth $4,738,000 after buying an additional 185 shares during the period. Finally, Summit Place Financial Advisors LLC increased its position in shares of Visa by 11.0% during the fourth quarter. Summit Place Financial Advisors LLC now owns 11,461 shares of the credit-card processor’s stock worth $2,381,000 after buying an additional 1,136 shares during the period. 81.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on V shares. UBS Group decreased their price target on Visa from $290.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Oppenheimer raised their target price on Visa from $210.00 to $237.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Morgan Stanley raised their target price on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Visa Stock Performance

Shares of Visa stock opened at $225.99 on Friday. The firm has a market capitalization of $425.09 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $223.74 and its 200 day simple moving average is $210.95. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $234.30.

Visa (NYSE:V – Get Rating) last released its 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. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business’s revenue for the quarter 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, analysts anticipate that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The business 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 of this dividend was Thursday, February 9th. Visa’s dividend payout ratio is currently 25.17%.

Insider Transactions at Visa

In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of Visa stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $219.00, for a total transaction 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 approximately $1,003,677. The transaction was disclosed in a legal 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 business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the transaction, the chairman now directly 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. Insiders sold a total of 191,312 shares of company stock worth $33,751,165 in the last quarter. Insiders own 0.22% of the company’s stock.

About Visa

(Get Rating)

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).