Chung Wu Investment Group LLC Takes $1.43 Million Position in Visa Inc. (NYSE:V)

Chung Wu Investment Group LLC bought a new stake in Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,531 shares of the credit-card processor’s stock, valued at approximately $1,432,000. Visa accounts for about 1.4% of Chung Wu Investment Group LLC’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Visa during the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. State Street Corp boosted its stake in Visa by 4.5% during 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 acquiring an additional 3,327,977 shares during the last quarter. FMR LLC boosted its stake in Visa by 6.1% during the 3rd 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 last quarter. Finally, Geode Capital Management LLC boosted its stake in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,505 shares of company stock worth $22,290,507. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays increased their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. JPMorgan Chase & Co. increased 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. The Goldman Sachs Group increased their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Performance

Shares of V opened at $343.81 on Friday. The firm has a 50-day moving average price of $335.63 and a 200 day moving average price of $307.80. The firm has a market capitalization of $638.72 billion, a PE ratio of 34.66, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V) last announced 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, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s dividend payout ratio (DPR) is 23.79%.

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.