StrongBox Wealth LLC Reduces Position in Visa Inc. (NYSE:V)

StrongBox Wealth LLC decreased its position in Visa Inc. (NYSE:V) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,641 shares of the credit-card processor’s stock after selling 909 shares during the period. Visa makes up about 2.8% of StrongBox Wealth LLC’s portfolio, making the stock its 13th biggest holding. StrongBox Wealth LLC’s holdings in Visa were worth $6,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC increased its stake in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on V shares. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Citigroup boosted their target price on shares of Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays raised their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $331.92.

Visa Price Performance

NYSE:V opened at $317.10 on Friday. The stock has a 50 day moving average price of $312.94 and a 200 day moving average price of $287.85. The stock has a market cap of $590.71 billion, a PE ratio of 32.59, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $321.61.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.74%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.