New Millennium Group LLC Has $4.97 Million Stock Position in Visa Inc. $V

New Millennium Group LLC boosted its position in shares of Visa Inc. (NYSE:V) by 105.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,550 shares of the credit-card processor’s stock after purchasing an additional 7,480 shares during the quarter. Visa comprises 2.3% of New Millennium Group LLC’s holdings, making the stock its 15th biggest position. New Millennium Group LLC’s holdings in Visa were worth $4,967,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sagard Holdings Management Inc. bought a new position in Visa in the second quarter valued at approximately $31,000. Bare Financial Services Inc boosted its position in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. Quaker Wealth Management LLC grew its stake in shares of Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 225 shares during the period. Winnow Wealth LLC bought a new stake in Visa in the second quarter valued at about $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Visa in the second quarter valued at about $41,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a research report on Friday, January 30th. Truist Financial set a $372.00 price objective on shares of Visa in a research note on Tuesday, February 10th. UBS Group restated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Piper Sandler set a $160.00 target price on shares of Visa in a report on Wednesday, January 28th. Finally, HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Seven analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $392.21.

Visa Price Performance

Visa stock opened at $318.69 on Friday. The stock has a 50-day moving average price of $336.94 and a two-hundred day moving average price of $339.09. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a market capitalization of $578.47 billion, a PE ratio of 29.90, a P/E/G ratio of 1.84 and a beta of 0.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the company earned $2.75 EPS. Visa’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts expect 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, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.