Uniting Wealth Partners LLC Acquires 1,805 Shares of Visa Inc. $V

Uniting Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 234.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,575 shares of the credit-card processor’s stock after purchasing an additional 1,805 shares during the period. Uniting Wealth Partners LLC’s holdings in Visa were worth $879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Snider Financial Group boosted its stake in shares of Visa by 3.2% in the third quarter. Snider Financial Group now owns 10,100 shares of the credit-card processor’s stock valued at $3,448,000 after buying an additional 310 shares during the period. Warner Group LLC bought a new position in Visa during the 3rd quarter worth $359,000. Aberdeen Group plc raised its holdings in Visa by 6.6% in the 3rd quarter. Aberdeen Group plc now owns 1,613,891 shares of the credit-card processor’s stock valued at $550,482,000 after acquiring an additional 99,543 shares in the last quarter. Berkshire Asset Management LLC PA lifted its position in shares of Visa by 11.0% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 5,596 shares of the credit-card processor’s stock valued at $1,910,000 after acquiring an additional 553 shares during the period. Finally, TCTC Holdings LLC grew its holdings in shares of Visa by 0.6% during the 3rd quarter. TCTC Holdings LLC now owns 29,617 shares of the credit-card processor’s stock worth $10,111,000 after purchasing an additional 186 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Truist Financial set a $372.00 target price on shares of Visa in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $411.00 price target (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. Finally, Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a research report on Wednesday, January 28th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $392.21.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Trading Down 3.1%

V opened at $314.13 on Friday. The company has a market cap of $570.19 billion, a P/E ratio of 29.47, a PEG ratio of 1.80 and a beta of 0.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $337.98 and its 200-day moving average is $339.81. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 EPS. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. Visa’s dividend payout ratio (DPR) is 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.