Costello Asset Management INC Has $7.41 Million Stock Position in Visa Inc. $V

Costello Asset Management INC boosted its holdings in Visa Inc. (NYSE:V) by 21.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,704 shares of the credit-card processor’s stock after purchasing an additional 3,904 shares during the period. Visa makes up 2.5% of Costello Asset Management INC’s portfolio, making the stock its 10th largest position. Costello Asset Management INC’s holdings in Visa were worth $7,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its stake in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares in the last quarter. Trifecta Capital Advisors LLC grew its holdings in Visa by 12.3% in the second quarter. Trifecta Capital Advisors LLC now owns 25,691 shares of the credit-card processor’s stock worth $9,122,000 after purchasing an additional 2,809 shares during the period. Finally, Cohen Investment Advisors LLC increased its position in Visa by 1.2% during the 2nd quarter. Cohen Investment Advisors LLC now owns 13,512 shares of the credit-card processor’s stock valued at $4,797,000 after buying an additional 166 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Daiwa America upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Piper Sandler set a $160.00 price target on shares of Visa in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $392.29.

Visa Stock Performance

Visa stock opened at $325.48 on Tuesday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $338.40 and its 200-day moving average price is $340.57. The company has a market cap of $590.80 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.79.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating 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. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

About Visa

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.