Horizon Investment Services LLC Increases Stock Position in Visa Inc. (NYSE:V)

Horizon Investment Services LLC lifted its holdings in Visa Inc. (NYSE:V) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,841 shares of the credit-card processor’s stock after buying an additional 682 shares during the quarter. Visa makes up about 2.1% of Horizon Investment Services LLC’s holdings, making the stock its 13th biggest holding. Horizon Investment Services LLC’s holdings in Visa were worth $5,007,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Riverstone Advisors LLC purchased a new position in shares of Visa in the 4th quarter worth about $217,000. Journey Strategic Wealth LLC raised its holdings in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after buying an additional 1,361 shares during the last quarter. King Wealth Management Group lifted its stake in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Visa during the fourth quarter valued at approximately $10,163,000. Finally, Copley Financial Group Inc. purchased a new position in Visa in the 3rd quarter worth approximately $616,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on V. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,205 shares of company stock worth $48,560,961. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 2.1 %

Shares of V opened at $342.62 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The stock has a market capitalization of $636.51 billion, a PE ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. The company’s fifty day moving average is $343.60 and its 200 day moving average is $315.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.