Hidden Cove Wealth Management LLC Makes New $223,000 Investment in Visa Inc. (NYSE:V)

Hidden Cove Wealth Management LLC acquired a new position in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 707 shares of the credit-card processor’s stock, valued at approximately $223,000.

Several other hedge funds have also recently bought and sold shares of V. Three Bridge Wealth Advisors LLC increased its stake in shares of Visa by 4.5% in the fourth quarter. Three Bridge Wealth Advisors LLC now owns 3,718 shares of the credit-card processor’s stock valued at $1,175,000 after buying an additional 159 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in shares of Visa by 52.1% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,883 shares of the credit-card processor’s stock valued at $595,000 after buying an additional 645 shares in the last quarter. Clarity Capital Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at $211,000. Van ECK Associates Corp increased its stake in shares of Visa by 9.1% in the fourth quarter. Van ECK Associates Corp now owns 423,111 shares of the credit-card processor’s stock valued at $133,720,000 after buying an additional 35,242 shares in the last quarter. Finally, MontVue Capital Management Inc. acquired a new stake in shares of Visa in the fourth quarter valued at $237,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. Macquarie lifted 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. Raymond James reiterated an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada lifted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $354.73.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred 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 owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,056 shares of company stock valued at $19,830,050. 0.13% of the stock is owned by insiders.

Visa Stock Down 0.5 %

Shares of Visa stock opened at $353.73 on Friday. The business’s 50 day simple moving average is $324.29 and its 200 day simple moving average is $298.30. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $356.08. The firm has a market cap of $657.15 billion, a PE ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, analysts predict that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is presently 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.