Channel Wealth LLC Purchases 155 Shares of Visa Inc. (NYSE:V)

Channel Wealth LLC increased its position in shares of Visa Inc. (NYSE:V) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,117 shares of the credit-card processor’s stock after buying an additional 155 shares during the period. Channel Wealth LLC’s holdings in Visa were worth $2,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its holdings in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC boosted its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC grew its stake in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. increased its position in Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares during the period. Finally, Legal & General Group Plc raised its stake in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

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

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. Wells Fargo & Company raised their price target on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler upped their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Price Performance

Visa stock opened at $319.97 on Friday. The business’s fifty day moving average is $313.16 and its two-hundred day moving average is $288.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $596.06 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.

Visa (NYSE:V) last issued 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 the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’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 EPS. Equities research analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

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.