M1 Capital Management LLC Makes New Investment in Visa Inc. (NYSE:V)

M1 Capital Management LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 876 shares of the credit-card processor's stock, valued at approximately $277,000.

A number of other hedge funds have also modified their holdings of the stock. Capital & Planning LLC boosted its holdings in Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after purchasing an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC bought a new stake in Visa in the fourth quarter worth $424,000. Brighton Jones LLC boosted its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in Visa by 1.1% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 29,671 shares of the credit-card processor's stock valued at $9,377,000 after acquiring an additional 316 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its holdings in Visa by 12.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 18,118 shares of the credit-card processor's stock valued at $5,726,000 after acquiring an additional 2,069 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V traded up $3.03 during midday trading on Friday, reaching $365.43. 8,725,642 shares of the company's stock were exchanged, compared to its average volume of 7,023,744. The firm has a market capitalization of $674.28 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The business has a 50-day simple moving average of $342.99 and a two-hundred day simple moving average of $333.16. 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 Inc. has a one year low of $252.70 and a one year high of $369.15.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analyst Ratings Changes

A number of research firms have issued reports on V. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group upped their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America upped their price target on shares of Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $366.13.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,948 shares of company stock valued at $41,548,282. Corporate insiders own 0.13% of the company's stock.

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.