Halbert Hargrove Global Advisors LLC Acquires New Holdings in Visa Inc. (NYSE:V)

Halbert Hargrove Global Advisors LLC bought a new stake in Visa Inc. (NYSE:V) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 435 shares of the credit-card processor’s stock, valued at approximately $137,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB grew its stake in Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after buying an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC boosted its holdings in Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares in the last quarter. Pettinga Financial Advisors LLC purchased a new stake in shares of Visa during the third quarter worth about $228,000. Prossimo Advisors LLC increased its holdings in shares of Visa by 1.4% during the third quarter. Prossimo Advisors LLC now owns 18,515 shares of the credit-card processor’s stock valued at $5,091,000 after acquiring an additional 248 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $227,342,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on V. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Stock Performance

NYSE V opened at $361.60 on Tuesday. The stock has a market capitalization of $671.77 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.33 and a beta of 0.97. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $333.92 and a 200 day moving average of $306.64.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,885 shares of company stock worth $19,161,447. Company insiders own 0.13% of the company’s stock.

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.