Modus Advisors LLC Buys New Stake in Visa Inc. (NYSE:V)

Modus Advisors LLC bought a new position in shares of Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 101 shares of the credit-card processor’s stock, valued at approximately $32,000.

A number of other hedge funds also recently bought and sold shares of V. Custom Index Systems LLC bought a new position in Visa during the third quarter worth $731,000. Copley Financial Group Inc. bought a new position in shares of Visa during the 3rd quarter worth about $616,000. FORA Capital LLC acquired a new position in shares of Visa during the third quarter valued at about $7,987,000. Chicago Capital LLC lifted its stake in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC grew its position in Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.2 %

V stock opened at $314.91 on Friday. The business has a fifty day moving average of $309.06 and a 200-day moving average of $285.28. The company has a market cap of $586.64 billion, a P/E ratio of 32.36, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company posted $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Wells Fargo & Company increased their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Barclays lifted their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.70.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing 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 shares were 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. Corporate insiders own 0.13% of the company’s stock.

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.