Tang Capital Management LLC Has $1.49 Million Stake in Visa Inc. (NYSE:V)

Tang Capital Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 42.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,718 shares of the credit-card processor’s stock after buying an additional 1,400 shares during the period. Tang Capital Management LLC’s holdings in Visa were worth $1,491,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of V. Decker Retirement Planning Inc. acquired a new stake in Visa in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC lifted its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new position in Visa during the 4th quarter valued at $32,000. Finally, NewSquare Capital LLC bought a new position in Visa during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group dropped their price objective on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” 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, Visa currently has an average rating of “Moderate Buy” and an average price target of $362.38.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

V opened at $365.23 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. 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 has a fifty day simple moving average of $338.59 and a two-hundred day simple moving average of $329.61. The company has a market cap of $673.90 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s 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.