Constitution Capital LLC Grows Stake in Visa Inc. $V

Constitution Capital LLC boosted its position in shares of Visa Inc. (NYSE:V) by 48.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,670 shares of the credit-card processor’s stock after acquiring an additional 1,850 shares during the quarter. Visa accounts for 0.9% of Constitution Capital LLC’s portfolio, making the stock its 26th biggest holding. Constitution Capital LLC’s holdings in Visa were worth $1,936,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the period. Geode Capital Management LLC increased its holdings in Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after buying an additional 1,067,631 shares during the last quarter. Norges Bank bought a new position in Visa in the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. boosted its stake in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,557 shares of company stock worth $4,586,137 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Visa Stock Down 0.7%

Shares of V opened at $350.99 on Thursday. The business’s 50 day moving average is $339.06 and its 200 day moving average is $343.87. 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 Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a market capitalization of $639.41 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

Visa (NYSE:V) last announced its quarterly earnings data 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. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on V. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley set a $398.00 price objective on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Evercore ISI set a $380.00 target price on shares of Visa in a report on Friday, December 12th. Finally, HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted their price target for the company from $335.00 to $389.00 in a report on Sunday, December 7th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus price target of $402.52.

Visa Profile

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.