Pittenger & Anderson Inc. Grows Stock Position in Visa Inc. (NYSE:V)

Pittenger & Anderson Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,000 shares of the credit-card processor’s stock after buying an additional 122 shares during the quarter. Visa accounts for approximately 1.2% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 15th largest position. Pittenger & Anderson Inc.’s holdings in Visa were worth $33,184,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new stake in shares of Visa during the fourth quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC grew its stake in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC purchased a new position in Visa during the 4th quarter worth $32,000. Finally, Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter valued at $31,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $354.95 on Thursday. The firm has a 50 day moving average of $327.75 and a two-hundred day moving average of $301.05. The firm has a market capitalization of $659.42 billion, a PE ratio of 35.78, a P/E/G ratio of 2.35 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $357.15.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is 23.79%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on shares of Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays boosted their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’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 completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock valued at $19,830,050 over the last ninety days. Company insiders own 0.13% of the company’s stock.

About Visa

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.