Sonoma Allocations LLC Takes $710,000 Position in Visa Inc. $V

Sonoma Allocations LLC acquired a new position in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,117 shares of the credit-card processor’s stock, valued at approximately $710,000.

A number of other large investors have also recently bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa during the 2nd quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. grew its stake in 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 buying an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC grew its stake in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. Vanguard Group Inc. increased its position in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Visa by 2.5% in 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. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

Shares of V stock opened at $349.75 on Monday. The stock has a 50-day simple moving average of $340.09 and a 200 day simple moving average of $344.13. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The stock has a market capitalization of $637.15 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.06 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 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 net margin of 50.15% and a return on equity of 60.31%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. On average, sell-side 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. Investors of record on Wednesday, November 12th were given a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is 26.25%.

Insider Buying and Selling

In other Visa 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 transaction of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 24,042 shares of company stock valued at $8,247,289. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and boosted their target price for the company from $335.00 to $389.00 in a research note on Sunday, December 7th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $402.52.

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.