Tanager Wealth Management LLP Invests $280,000 in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 10th, 2023

Tanager Wealth Management LLP purchased a new stake in shares of Visa Inc. (NYSE:V – Get Rating) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,350 shares of the credit-card processor’s stock, valued at approximately $280,000.

Other institutional investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in Visa during the third quarter valued at about $26,000. Global Wealth Strategies & Associates bought a new stake in shares of Visa in the fourth quarter valued at approximately $26,000. Cowa LLC purchased a new stake in shares of Visa during the 3rd quarter valued at approximately $29,000. JDM Financial Group LLC bought a new position in Visa in the 4th quarter worth approximately $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Visa in the 4th quarter valued at 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 the company’s stock in a transaction that occurred 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 transaction, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction that occurred on 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 sale, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rajat Taneja sold 61,721 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. Insiders have sold a total of 133,115 shares of company stock worth $30,115,598 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Visa Trading Down 1.0 %

Shares of V stock opened at $225.99 on Monday. The business has a 50-day moving average of $223.74 and a 200 day moving average of $211.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The stock has a market capitalization of $425.09 billion, a PE ratio of 31.61, a P/E/G ratio of 1.77 and a beta of 0.96.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This is a boost from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is presently 25.17%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on V shares. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 23rd. Oppenheimer lifted their target price on Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. Credit Suisse Group raised their price objective on shares of Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Mizuho upped their target price on shares of Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, January 30th. Finally, Wolfe Research increased their target price on shares of Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.11.

About Visa

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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).