Thrivent Financial for Lutherans Acquires 95,685 Shares of Visa Inc. (NYSE:V)

Thrivent Financial for Lutherans lifted its stake in shares of Visa Inc. (NYSE:V) by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,114,008 shares of the credit-card processor’s stock after acquiring an additional 95,685 shares during the period. Visa accounts for about 0.7% of Thrivent Financial for Lutherans’ portfolio, making the stock its 13th largest position. Thrivent Financial for Lutherans’ holdings in Visa were worth $351,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Riverstone Advisors LLC bought a new position in Visa in the 4th quarter valued at about $217,000. Journey Strategic Wealth LLC boosted its position in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group boosted its holdings in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa in the fourth quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. bought a new position in Visa during the third quarter valued at $616,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.8 %

NYSE V opened at $334.35 on Tuesday. The firm has a market capitalization of $621.15 billion, a PE ratio of 33.70, a P/E/G ratio of 2.33 and a beta of 0.95. The stock’s 50 day moving average is $338.39 and its 200 day moving average is $311.61. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. 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 (NYSE:V) last issued its quarterly 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%. 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

V has been the subject of a number of research reports. UBS Group increased their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, Bank of America increased their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $353.96.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 103,855 shares of company stock worth $35,165,827 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.