Thurston Springer Miller Herd & Titak Inc. Has $1 Million Stake in Visa Inc. (NYSE:V)

Thurston Springer Miller Herd & Titak Inc. grew its position in Visa Inc. (NYSE:V) by 44.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,173 shares of the credit-card processor’s stock after buying an additional 983 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Visa were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Visa in the third quarter valued at about $26,000. Reston Wealth Management LLC bought a new position in shares of Visa in the third quarter worth about $31,000. Modus Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. West Financial Advisors LLC grew its holdings in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the last quarter. Finally, Global Wealth Strategies & Associates increased its position in Visa by 79.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock worth $49,000 after purchasing an additional 79 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $316.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50-day moving average is $312.76 and its 200-day moving average is $287.65. The stock has a market capitalization of $589.51 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. Equities research analysts expect that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is presently 24.25%.

Analyst Ratings Changes

A number of research firms have weighed in on V. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their target price on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Mizuho lifted their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.