Monterey Private Wealth Inc. Has $1.56 Million Stake in Visa Inc. (NYSE:V)

Monterey Private Wealth Inc. boosted its position in Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,938 shares of the credit-card processor’s stock after buying an additional 148 shares during the period. Monterey Private Wealth Inc.’s holdings in Visa were worth $1,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Decker Retirement Planning Inc. acquired a new position in shares of Visa during the fourth quarter valued at about $26,000. Peterson Financial Group Inc. acquired a new position in shares of Visa during the third quarter valued at about $26,000. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at about $32,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter valued at about $31,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Visa during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Up 1.4 %

Visa stock opened at $328.18 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $328.51. The firm has a 50 day moving average price of $314.14 and a 200-day moving average price of $289.71. The company has a market capitalization of $611.36 billion, a P/E ratio of 33.73, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. As a group, equities analysts predict that Visa Inc. will post 11.2 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is 24.25%.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. TD Cowen upped their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $332.81.

Visa Company 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.