Mattern Wealth Management LLC Has $3.32 Million Stock Position in Visa Inc. (NYSE:V)

Mattern Wealth Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,497 shares of the credit-card processor’s stock after selling 141 shares during the quarter. Visa accounts for 0.7% of Mattern Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Mattern Wealth Management LLC’s holdings in Visa were worth $3,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Anchor Investment Management LLC raised its stake in shares of Visa by 1.2% in the 2nd quarter. Anchor Investment Management LLC now owns 101,450 shares of the credit-card processor’s stock valued at $26,627,000 after buying an additional 1,157 shares in the last quarter. Centaurus Financial Inc. increased its stake in Visa by 72.5% in the second quarter. Centaurus Financial Inc. now owns 18,396 shares of the credit-card processor’s stock valued at $4,829,000 after acquiring an additional 7,734 shares during the period. Ashburton Jersey Ltd acquired a new position in Visa in the second quarter worth about $14,347,000. Mattson Financial Services LLC bought a new stake in shares of Visa in the 2nd quarter valued at approximately $2,300,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Visa by 79.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock worth $49,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research 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 report on Friday, November 1st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $335.52.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction 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 directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale 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 Visa stock in a transaction dated 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. Insiders own 0.13% of the company’s stock.

Visa Trading Up 2.2 %

NYSE:V opened at $343.26 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $344.44. The firm has a market capitalization of $639.46 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.17 and a beta of 0.96. The business’s 50-day moving average price is $316.43 and its two-hundred day moving average price is $292.09.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. On average, equities analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s dividend payout ratio is presently 24.25%.

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.