Verus Wealth Management LLC Takes Position in Visa Inc. (NYSE:V)

Verus Wealth Management LLC acquired a new stake in Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 782 shares of the credit-card processor’s stock, valued at approximately $247,000.

Several other large investors have also made changes to their positions in the company. Fulton Breakefield Broenniman LLC grew its holdings in shares of Visa by 0.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 116,673 shares of the credit-card processor’s stock worth $36,873,000 after purchasing an additional 730 shares during the last quarter. Gateway Wealth Partners LLC grew its holdings in shares of Visa by 26.4% in the 4th quarter. Gateway Wealth Partners LLC now owns 1,763 shares of the credit-card processor’s stock worth $557,000 after purchasing an additional 368 shares during the last quarter. Capital Investment Counsel LLC grew its holdings in shares of Visa by 5.8% in the 4th quarter. Capital Investment Counsel LLC now owns 1,629 shares of the credit-card processor’s stock worth $515,000 after purchasing an additional 90 shares during the last quarter. Southern Style Financial Inc. bought a new stake in shares of Visa in the 4th quarter worth about $232,000. Finally, Mayflower Financial Advisors LLC grew its holdings in shares of Visa by 2.2% in the 4th quarter. Mayflower Financial Advisors LLC now owns 11,971 shares of the credit-card processor’s stock worth $3,783,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly 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 document filed 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 that occurred 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. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $342.05 on Friday. 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 has a market capitalization of $637.19 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.27 and a beta of 0.96. The firm’s 50 day simple moving average is $317.09 and its 200 day simple moving average is $292.45. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $351.25.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, sell-side analysts forecast that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler increased their price objective on shares of Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Susquehanna increased their price objective on shares of Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a report on Friday. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $352.27.

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.