Visa Inc. (NYSE:V) Shares Bought by Montecito Bank & Trust

Montecito Bank & Trust grew its position in Visa Inc. (NYSE:V) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,023 shares of the credit-card processor’s stock after acquiring an additional 230 shares during the quarter. Montecito Bank & Trust’s holdings in Visa were worth $3,800,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. purchased a new position in Visa in the 4th quarter valued at $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the third quarter valued at about $26,000. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth about $32,000. Reston Wealth Management LLC purchased a new position in Visa during the third quarter worth about $31,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Visa in the fourth quarter valued at about $44,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on V shares. Piper Sandler boosted their target price on Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research report on Friday. Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Four research 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. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE V opened at $330.20 on Friday. The business’s 50-day moving average price is $314.95 and its 200 day moving average price is $290.42. 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 twelve month low of $252.70 and a twelve month high of $331.09. The company has a market capitalization of $615.11 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. The company’s revenue was up 11.7% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is currently 24.25%.

Visa 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.