Michels Family Financial LLC Takes $766,000 Position in Visa Inc. (NYSE:V)

Michels Family Financial LLC bought a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,423 shares of the credit-card processor's stock, valued at approximately $766,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Visa in the fourth quarter worth $5,171,271,000. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa during the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC grew its stake in shares of Visa by 17,018.7% in 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 buying an additional 3,926,049 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $8,642,333.60. The trade was a 59.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 over the last three months. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on V. UBS Group reduced their target price on shares of Visa from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.71.

Visa Price Performance

Shares of NYSE:V traded up $5.67 during midday trading on Tuesday, reaching $359.21. 6,312,180 shares of the company's stock were exchanged, compared to its average volume of 7,023,621. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50 day simple moving average is $341.75 and its two-hundred day simple moving average is $332.43. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The firm has a market capitalization of $662.80 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio is 23.72%.

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.