Premier Fund Managers Ltd lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 11.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,610 shares of the credit-card processor's stock after buying an additional 29,963 shares during the period. Visa makes up 2.9% of Premier Fund Managers Ltd's holdings, making the stock its 3rd biggest position. Premier Fund Managers Ltd's holdings in Visa were worth $82,466,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of V. International Assets Investment Management LLC raised its stake in shares of Visa by 45,189.4% in 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 Visa by 4,412.3% in the third 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 purchasing an additional 4,166,905 shares during the period. Swedbank AB acquired a new position in Visa during the first quarter worth $511,321,000. Wulff Hansen & CO. grew its stake in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor's stock valued at $416,788,000 after buying an additional 1,582,074 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Visa in the 3rd quarter valued at $268,640,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Down 1.2 %
Shares of Visa stock traded down $3.83 during trading hours on Wednesday, hitting $308.02. 1,736,182 shares of the company's stock traded hands, compared to its average volume of 6,950,467. Visa Inc. has a twelve month low of $250.03 and a twelve month high of $312.44. The stock has a 50 day simple moving average of $288.10 and a 200-day simple moving average of $276.63. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $561.31 billion, a PE ratio of 31.74, a PEG ratio of 2.07 and a beta of 0.95.
Visa (NYSE:V - Get Free Report) last released 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 net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. The company's revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa's dividend payout ratio is 24.25%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on V shares. Robert W. Baird increased their target price on shares of Visa from $330.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on Visa from $322.00 to $326.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a "buy" rating and a $319.00 price objective for the company. Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the company a "positive" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $321.74.
Read Our Latest Analysis on V
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company's stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company's stock.
Visa Profile
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Free Report)
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.
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