Hardy Reed LLC Has $4.42 Million Position in Visa Inc. (NYSE:V)

Hardy Reed LLC raised its holdings in Visa Inc. (NYSE:V) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,995 shares of the credit-card processor’s stock after buying an additional 59 shares during the period. Hardy Reed LLC’s holdings in Visa were worth $4,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. acquired a new position in shares of Visa during the 4th quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% during the 4th 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 during the last quarter. Modus Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth about $32,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter worth about $31,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of Visa stock opened at $348.27 on Friday. The company has a 50 day moving average of $329.14 and a 200-day moving average of $302.34. The company has a market cap of $647.01 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15. 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 (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 in the last three months. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on V. Piper Sandler reaffirmed an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Bank of America lifted their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $353.96.

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.