Visa Inc. (NYSE:V) Shares Bought by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC grew its position in Visa Inc. (NYSE:V) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,593 shares of the credit-card processor’s stock after acquiring an additional 667 shares during the period. Manhattan West Asset Management LLC’s holdings in Visa were worth $3,664,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Hirtle Callaghan & Co LLC increased its holdings in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the period. Elevation Wealth Partners LLC lifted its position in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC boosted its stake in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on V shares. Morgan Stanley lifted their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $355.84.

Visa Stock Up 2.8 %

Shares of NYSE:V opened at $333.69 on Friday. The company has a market capitalization of $619.91 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day moving average is $342.40 and its 200-day moving average is $318.76.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current 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 issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio is presently 23.79%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock valued at $48,842,490 over the last 90 days. Insiders own 0.13% of the company’s stock.

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.