Jeppson Wealth Management LLC Sells 97 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 10th, 2023

Jeppson Wealth Management LLC cut its stake in Visa Inc. (NYSE:V – Get Rating) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,882 shares of the credit-card processor’s stock after selling 97 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Visa were worth $391,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Occidental Asset Management LLC grew its position in shares of Visa by 4.3% during the 4th quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after purchasing an additional 465 shares in the last quarter. Private Trust Co. NA increased its stake in Visa by 1.7% in the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after acquiring an additional 140 shares during the last quarter. Foster Group Inc. bought a new position in Visa in the 4th quarter worth about $210,000. First City Capital Management Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at about $213,000. Finally, Capital Investment Advisors LLC boosted its position in shares of Visa by 4.0% during the 4th quarter. Capital Investment Advisors LLC now owns 23,619 shares of the credit-card processor’s stock valued at $4,907,000 after acquiring an additional 899 shares during the last quarter. Hedge funds and other 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 dated 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 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 filing with the Securities & Exchange Commission, which is available through this link. In other Visa news, 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 completion of the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 13,394 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was 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 in the company, valued at $1,003,677. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,115 shares of company stock valued at $30,115,598. 0.22% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $225.99 on Monday. 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 company has a market cap of $425.09 billion, a P/E ratio of 31.61, a PEG ratio of 1.77 and a beta of 0.96. The firm has a 50-day moving average of $223.74 and a 200 day moving average of $211.12.

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 firm 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a dividend of $0.45 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio is presently 25.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on V. Credit Suisse Group boosted their price target on shares of Visa from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. UBS Group reduced their target price on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. BMO Capital Markets lifted their price target on Visa from $249.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Truist Financial increased their price objective on Visa from $235.00 to $260.00 in a research report on Friday, January 20th. Finally, JPMorgan Chase & Co. upped their target price on Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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).