J.Safra Asset Management Corp Buys 2,320 Shares of Visa Inc. $V

J.Safra Asset Management Corp grew its stake in shares of Visa Inc. (NYSE:V) by 30.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,907 shares of the credit-card processor’s stock after buying an additional 2,320 shares during the period. J.Safra Asset Management Corp’s holdings in Visa were worth $3,382,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Visa during the 2nd quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. lifted its position in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Corient Private Wealth LLC boosted its stake in Visa by 110.4% during the second 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 in the last quarter. Vanguard Group Inc. increased its holdings in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Visa by 2.5% in the 2nd 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 in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V opened at $328.41 on Tuesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50 day moving average of $339.29 and a 200-day moving average of $343.18. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $598.28 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.93 and a beta of 0.81.

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

Visa Increases Dividend

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

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,042 shares of company stock worth $8,247,289. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus 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.