Northeast Financial Consultants Inc Has $7.39 Million Stock Position in Visa Inc. (NYSE:V)

Northeast Financial Consultants Inc raised its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,367 shares of the credit-card processor’s stock after buying an additional 274 shares during the period. Northeast Financial Consultants Inc’s holdings in Visa were worth $7,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in shares of Visa in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa in the fourth quarter worth about $27,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc bought a new position in shares of Visa in the fourth quarter worth about $32,000. Finally, NewSquare Capital LLC bought a new position in shares of Visa in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, Barclays boosted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Stock Up 0.1%

NYSE V opened at $356.13 on Wednesday. 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 stock’s 50 day moving average is $337.30 and its two-hundred day moving average is $328.04. The company has a market capitalization of $661.61 billion, a price-to-earnings ratio of 35.90, a PEG 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.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.51 earnings per share. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. The trade was a 94.14% 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, 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 completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84% 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 valued at $41,548,282 in the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Company 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.