Allen Mooney & Barnes Investment Advisors LLC Grows Stake in Visa Inc. (NYSE:V)

Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,900 shares of the credit-card processor’s stock after purchasing an additional 179 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Visa were worth $6,289,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Up 2.4 %

Shares of V stock opened at $316.45 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The firm has a market capitalization of $589.51 billion, a P/E ratio of 32.52, a PEG ratio of 2.11 and a beta of 0.96. The stock’s fifty day moving average is $312.76 and its two-hundred day moving average is $287.65. 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 (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 earnings per share. Research analysts expect that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their target price on shares of Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

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.