52,274 Shares in Visa Inc. (NYSE:V) Bought by Professional Advisory Services Inc.

Professional Advisory Services Inc. acquired a new stake in Visa Inc. (NYSE:V) during the third quarter, HoldingsChannel reports. The firm acquired 52,274 shares of the credit-card processor’s stock, valued at approximately $14,373,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sax Wealth Advisors LLC increased its position in shares of Visa by 71.1% during the third quarter. Sax Wealth Advisors LLC now owns 2,072 shares of the credit-card processor’s stock worth $570,000 after purchasing an additional 861 shares in the last quarter. BCS Wealth Management grew its stake in Visa by 42.0% during the 3rd quarter. BCS Wealth Management now owns 2,264 shares of the credit-card processor’s stock worth $623,000 after buying an additional 670 shares during the last quarter. Kozak & Associates Inc. increased its position in Visa by 4.7% during the third quarter. Kozak & Associates Inc. now owns 3,713 shares of the credit-card processor’s stock worth $1,068,000 after buying an additional 168 shares during the period. Howard Capital Management Group LLC lifted its stake in Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after buying an additional 610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Visa by 1.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 441,939 shares of the credit-card processor’s stock valued at $121,511,000 after acquiring an additional 8,288 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Oppenheimer assumed coverage on Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective for the company. Finally, TD Cowen lowered their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Stock Performance

V opened at $290.62 on Friday. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market cap of $531.53 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.94 and a beta of 0.96. The stock’s 50 day simple moving average is $276.91 and its 200 day simple moving average is $272.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

About Visa

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.