South Plains Financial Inc. Makes New $1.97 Million Investment in Visa Inc. (NYSE:V)

South Plains Financial Inc. acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,225 shares of the credit-card processor's stock, valued at approximately $1,967,000. Visa accounts for 1.5% of South Plains Financial Inc.'s holdings, making the stock its 12th largest holding.

Other hedge funds also recently made changes to their positions in the company. Blue Rock Wealth Management LLC acquired a new stake in Visa during the 4th quarter valued at approximately $306,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Visa in the fourth quarter worth approximately $339,000. Cypress Advisory Group LLC purchased a new position in Visa during the 4th quarter worth $2,816,000. FAS Wealth Partners Inc. increased its stake in Visa by 1.8% in the 4th quarter. FAS Wealth Partners Inc. now owns 11,991 shares of the credit-card processor's stock valued at $3,790,000 after buying an additional 217 shares during the last quarter. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at $253,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

V traded up $1.07 during trading on Monday, reaching $348.67. 3,864,423 shares of the stock were exchanged, compared to its average volume of 7,225,082. The company has a market capitalization of $647.75 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The business's 50 day moving average price is $337.61 and its two-hundred day moving average price is $325.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (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 for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is currently 23.72%.

Insider Activity

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 transaction of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company's stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,208 shares of company stock worth $48,905,978 over the last 90 days. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on V shares. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.

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.