Monumental Financial Group Inc. Makes New $1.11 Million Investment in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 14th, 2023

Monumental Financial Group Inc. acquired a new position in Visa Inc. (NYSE:V – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,328 shares of the credit-card processor’s stock, valued at approximately $1,107,000. Visa accounts for 0.9% of Monumental Financial Group Inc.’s investment portfolio, making the stock its 25th biggest holding.

Other large investors also recently modified their holdings of the company. Guyasuta Investment Advisors Inc. raised its holdings in shares of Visa by 3.6% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 5,852 shares of the credit-card processor’s stock valued at $1,216,000 after buying an additional 201 shares during the period. Armor Investment Advisors LLC grew its position in shares of Visa by 0.9% in the 4th quarter. Armor Investment Advisors LLC now owns 20,917 shares of the credit-card processor’s stock worth $4,346,000 after acquiring an additional 191 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV grew its position in shares of Visa by 0.9% in the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 16,776 shares of the credit-card processor’s stock worth $3,485,000 after acquiring an additional 150 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $501,000. Finally, Cross Staff Investments Inc grew its position in shares of Visa by 1.0% in the 4th quarter. Cross Staff Investments Inc now owns 6,531 shares of the credit-card processor’s stock worth $1,357,000 after acquiring an additional 62 shares in the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 13,394 shares of the company’s 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 sale, the general counsel now owns 4,583 shares in the company, valued at approximately $1,003,677. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s 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 is available through the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the company’s stock in a transaction that occurred on 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 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 133,115 shares of company stock worth $30,115,598 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. Truist Financial lifted their target price on Visa from $235.00 to $260.00 in a research report on Friday, January 20th. Wolfe Research boosted their price objective on Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Raymond James boosted their price objective on Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Finally, Credit Suisse Group boosted their price objective on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Visa Stock Performance

Shares of V stock opened at $232.69 on Friday. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. 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 company has a market capitalization of $437.69 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.79 and a beta of 0.96. The stock’s fifty day simple moving average is $223.59 and its 200-day simple moving average is $211.83.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings results 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 business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. Visa’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.40. Visa’s payout ratio is 25.17%.

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).