Altus Wealth Group LLC Raises Stock Position in Visa Inc. (NYSE:V)

Altus Wealth Group LLC grew its stake in Visa Inc. (NYSE:V) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,187 shares of the credit-card processor’s stock after purchasing an additional 152 shares during the quarter. Visa comprises about 1.0% of Altus Wealth Group LLC’s holdings, making the stock its 24th biggest holding. Altus Wealth Group LLC’s holdings in Visa were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Swedbank AB boosted its position in shares of Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC lifted its position in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after buying an additional 610 shares during the period. Pettinga Financial Advisors LLC bought a new stake in shares of Visa during the 3rd quarter valued at $228,000. Principal Financial Group Inc. grew its position in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after buying an additional 411,210 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Visa in the 3rd quarter worth about $660,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Barclays boosted their target price on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,855 shares of company stock valued at $35,165,827. 0.13% of the stock is owned by company insiders.

Visa Price Performance

NYSE V opened at $331.72 on Friday. The company has a 50-day moving average price of $337.96 and a 200-day moving average price of $310.90. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $616.26 billion, a P/E ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

About Visa

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.