ABC Arbitrage SA Makes New $1.51 Million Investment in Visa Inc. $V

ABC Arbitrage SA bought a new position in Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,244 shares of the credit-card processor’s stock, valued at approximately $1,507,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new stake in shares of Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the 2nd quarter valued at approximately $29,000. Cranbrook Wealth Management LLC raised its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, Hoese & Co LLP purchased a new stake in shares of Visa during the second quarter worth $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V opened at $339.00 on Thursday. The business’s 50-day moving average is $342.72 and its 200 day moving average is $348.78. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a market capitalization of $621.32 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.05 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 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 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 23.11%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

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.