Joseph Group Capital Management raised its stake in Visa Inc. (NYSE:V – Free Report) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,803 shares of the credit-card processor’s stock after buying an additional 555 shares during the period. Visa makes up approximately 1.6% of Joseph Group Capital Management’s holdings, making the stock its 19th largest holding. Joseph Group Capital Management’s holdings in Visa were worth $1,853,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Visa by 107,990.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock worth $474,634,314,000 after purchasing an additional 1,996,779,546 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after purchasing an additional 24,483,134 shares in the last quarter. Norges Bank purchased a new position in shares of Visa during the 4th quarter worth approximately $3,067,232,000. Morgan Stanley increased its stake in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after purchasing an additional 5,864,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Visa by 130.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after purchasing an additional 3,986,135 shares in the last quarter. 81.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
V has been the subject of a number of recent research reports. Robert W. Baird reissued an “outperform” rating and set a $284.00 price objective on shares of Visa in a research note on Thursday, September 14th. Credit Suisse Group raised their target price on shares of Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. Truist Financial raised their target price on shares of Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. Barclays decreased their target price on shares of Visa from $285.00 to $278.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $275.67.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. Insiders have sold 72,100 shares of company stock valued at $17,368,639 in the last quarter. Company insiders own 0.22% of the company’s stock.
Visa Stock Up 0.4 %
Shares of NYSE:V traded up $0.99 during midday trading on Friday, hitting $249.56. 7,238,324 shares of the company’s stock traded hands, compared to its average volume of 6,417,070. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.45. The company has a market cap of $464.64 billion, a PE ratio of 30.10, a P/E/G ratio of 1.66 and a beta of 0.95. The firm’s fifty day moving average price is $238.42 and its two-hundred day moving average price is $236.12. Visa Inc. has a twelve month low of $202.13 and a twelve month high of $250.24.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.10. The business had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. On average, equities research analysts anticipate that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be issued a dividend of $0.52 per share. This is a positive change from Visa’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.83%. Visa’s payout ratio is presently 25.09%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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