Visa Inc. (NYSE:V) Shares Bought by Payden & Rygel

Payden & Rygel lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,700 shares of the credit-card processor's stock after purchasing an additional 6,700 shares during the quarter. Payden & Rygel's holdings in Visa were worth $16,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp raised its position in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor's stock valued at $632,000 after purchasing an additional 100 shares during the period. Empowered Funds LLC lifted its holdings in shares of Visa by 16.0% during the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor's stock valued at $16,328,000 after acquiring an additional 8,086 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Visa by 346.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,730 shares of the credit-card processor's stock worth $9,972,000 after purchasing an additional 27,735 shares during the last quarter. Sax Wealth Advisors LLC acquired a new stake in Visa during the first quarter worth about $220,000. Finally, EP Wealth Advisors LLC grew its position in Visa by 0.6% in the 1st quarter. EP Wealth Advisors LLC now owns 211,475 shares of the credit-card processor's stock worth $59,018,000 after purchasing an additional 1,280 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

Shares of V stock traded down $4.46 on Wednesday, hitting $307.39. 6,287,345 shares of the stock traded hands, compared to its average volume of 6,971,641. Visa Inc. has a 52 week low of $250.03 and a 52 week high of $312.44. The firm has a market cap of $560.16 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.07 and a beta of 0.95. The firm has a 50 day simple moving average of $288.57 and a two-hundred day simple moving average of $276.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa's payout ratio is presently 24.25%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company's stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Visa from $330.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 17th. Finally, Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $321.74.

Visa 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.