Visa Inc. $V Shares Bought by Perpetual Ltd

Perpetual Ltd boosted its holdings in Visa Inc. (NYSE:V) by 78.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,937 shares of the credit-card processor’s stock after acquiring an additional 1,729 shares during the period. Perpetual Ltd’s holdings in Visa were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the 2nd quarter valued at about $29,000. Sagard Holdings Management Inc. purchased a new stake in Visa in the 2nd quarter valued at about $31,000. Cranbrook Wealth Management LLC lifted its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc boosted its stake in Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,042 shares of company stock valued at $8,175,152. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Macquarie lowered their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $402.52.

Visa Trading Up 1.0%

V opened at $349.45 on Monday. The business has a fifty day moving average price of $337.48 and a 200 day moving average price of $344.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The stock has a market capitalization of $636.61 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 2.05 and a beta of 0.82.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the company earned $2.71 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 26.25%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.