Vivaldi Capital Management LP Acquires 21,620 Shares of Visa Inc. (NYSE:V)

Vivaldi Capital Management LP boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1,305.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,276 shares of the credit-card processor's stock after acquiring an additional 21,620 shares during the quarter. Visa accounts for about 1.2% of Vivaldi Capital Management LP's investment portfolio, making the stock its 26th largest holding. Vivaldi Capital Management LP's holdings in Visa were worth $7,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Norges Bank acquired a new position in Visa in the 4th quarter valued at approximately $5,171,271,000. Vanguard Group Inc. boosted 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 valued at $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Visa during the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Visa by 18.0% during 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 acquiring an additional 2,785,707 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value 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. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 in the last 90 days. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on V. Bank of America boosted their target price on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $362.38.

Visa Trading Down 0.1%

Shares of NYSE:V traded down $0.40 during trading on Thursday, hitting $357.90. 4,931,414 shares of the company's stock were exchanged, compared to its average volume of 7,018,792. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15. The firm has a market cap of $660.38 billion, a P/E ratio of 36.08, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $340.60 and a two-hundred day moving average price of $330.88.

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, beating analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

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.