Black Diamond Financial LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Black Diamond Financial LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 11.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,982 shares of the credit-card processor’s stock after buying an additional 208 shares during the quarter. Black Diamond Financial LLC’s holdings in Visa were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Elevation Wealth Partners LLC raised its stake in Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC grew its holdings in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after buying an additional 30 shares in the last quarter. Valmark Advisers Inc. raised its position in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares during the last quarter. Crescent Grove Advisors LLC lifted its stake in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after buying an additional 31 shares during the period. Finally, Vicus Capital boosted its position in Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on V shares. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Susquehanna upped their target price on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Barclays increased their target price on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler reissued an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, TD Cowen raised their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six investment 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 stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Performance

Visa stock opened at $352.00 on Wednesday. The stock’s 50 day moving average price is $330.49 and its 200 day moving average price is $303.94. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. 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 firm has a market capitalization of $653.93 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

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.