Copley Financial Group Inc. Purchases Shares of 2,240 Visa Inc. (NYSE:V)

Copley Financial Group Inc. acquired a new stake in Visa Inc. (NYSE:V - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,240 shares of the credit-card processor's stock, valued at approximately $616,000.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor's stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC raised its position in shares of Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor's stock valued at $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. State Street Corp lifted its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC boosted its position in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.2 %

Shares of NYSE V traded up $0.58 during trading on Friday, reaching $314.81. 4,682,165 shares of the stock were exchanged, compared to its average volume of 6,884,873. The business's 50-day moving average price is $298.56 and its 200 day moving average price is $280.71. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $317.42. The company has a market capitalization of $586.45 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is presently 24.25%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Susquehanna lifted their price objective on shares of Visa from $339.00 to $375.00 and gave the company a "positive" rating in a research note on Wednesday. Bank of America boosted their price objective on Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a report on Tuesday, September 17th. Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a "buy" rating and a $319.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $324.74.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.