Canopy Partners LLC Has $2.92 Million Holdings in Visa Inc. (NYSE:V)

Canopy Partners LLC raised its stake in shares of Visa Inc. (NYSE:V) by 65.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,229 shares of the credit-card processor’s stock after purchasing an additional 3,663 shares during the quarter. Visa comprises about 1.1% of Canopy Partners LLC’s investment portfolio, making the stock its 20th largest position. Canopy Partners LLC’s holdings in Visa were worth $2,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new stake in Visa during the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction 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 transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,842,490 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 7.6 %

Shares of V stock opened at $313.46 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The stock’s fifty day moving average price is $345.02 and its two-hundred day moving average price is $317.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $582.34 billion, a PE ratio of 31.60, a P/E/G ratio of 2.33 and a beta of 0.94.

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, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Morgan Stanley boosted their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays raised their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Company 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.