Southeast Asset Advisors LLC Grows Stock Position in Visa Inc. $V

Southeast Asset Advisors LLC increased its stake in Visa Inc. (NYSE:V) by 47.5% in the third quarter, Holdings Channel reports. The institutional investor owned 16,038 shares of the credit-card processor’s stock after acquiring an additional 5,166 shares during the period. Visa makes up about 0.6% of Southeast Asset Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Southeast Asset Advisors LLC’s holdings in Visa were worth $5,475,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Sonoma Allocations LLC purchased a new position in shares of Visa in the 3rd quarter valued at $710,000. AQR Capital Management LLC grew its stake in Visa by 1.8% in the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its position in shares of Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after buying an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Visa by 2.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after buying an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after buying an additional 159,906 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on V shares. Piper Sandler set a $160.00 target price on shares of Visa in a research report on Wednesday, January 28th. Rothschild & Co Redburn set a $385.00 price objective on Visa in a report on Wednesday, January 28th. Evercore set a $380.00 target price on Visa in a research note on Friday, December 12th. Truist Financial set a $372.00 price target on Visa in a research note on Tuesday, February 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $411.00 price target (up previously from $398.00) on shares of Visa in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $392.21.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Stock Down 3.1%

Shares of V stock opened at $314.13 on Monday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The firm has a market capitalization of $570.19 billion, a PE ratio of 29.47, a P/E/G ratio of 1.80 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $337.98 and its 200-day simple moving average is $339.73.

Visa (NYSE:V) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is 25.14%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.