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

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

Other large investors have also recently made changes to their positions in the company. Insight Wealth Strategies LLC lifted its position in Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors raised its stake in shares of Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after purchasing an additional 29 shares during the last quarter. Interchange Capital Partners LLC lifted its holdings in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares in the last quarter. Carr Financial Group Corp boosted its position in shares of Visa by 2.4% during the third quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after buying an additional 30 shares during the last quarter. Finally, Define Financial LLC boosted its position in shares of Visa by 4.0% during the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s 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 sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on V. Piper Sandler set a $160.00 price objective on Visa in a research note on Wednesday, January 28th. Rothschild & Co Redburn set a $385.00 target price on shares of Visa in a report on Wednesday, January 28th. HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Friday, January 30th. Finally, Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 target price on shares of Visa in a research report on Friday, January 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $392.21.

Visa Trading Down 0.5%

Shares of V stock opened at $318.69 on Friday. 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 firm has a market cap of $578.47 billion, a P/E ratio of 29.90, a PEG ratio of 1.84 and a beta of 0.79. The company has a 50 day moving average of $336.94 and a 200-day moving average of $339.09. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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