Visa Inc. (NYSE:V) Shares Purchased by Oak Ridge Investments LLC

Oak Ridge Investments LLC boosted its holdings in Visa Inc. (NYSE:V) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 71,258 shares of the credit-card processor’s stock after buying an additional 4,221 shares during the period. Visa makes up 1.7% of Oak Ridge Investments LLC’s portfolio, making the stock its 11th biggest holding. Oak Ridge Investments LLC’s holdings in Visa were worth $19,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in V. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa in the 3rd quarter worth about $31,000. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new position in shares of Visa in the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa in the 2nd quarter worth about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.3 %

Shares of V stock opened at $290.74 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a 1 year low of $239.20 and a 1 year high of $296.34. The stock has a fifty day moving average of $281.00 and a two-hundred day moving average of $273.63. The firm has a market capitalization of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.17 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 21.38%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on V. TD Cowen raised their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

Visa Company Profile

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.