Visa Inc. (NYSE:V) Stock Position Raised by Troy Asset Management Ltd

Troy Asset Management Ltd raised its holdings in shares of Visa Inc. (NYSE:V) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613,006 shares of the credit-card processor’s stock after acquiring an additional 42,987 shares during the quarter. Visa makes up 14.3% of Troy Asset Management Ltd’s investment portfolio, making the stock its largest position. Troy Asset Management Ltd’s holdings in Visa were worth $443,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.7 %

NYSE:V opened at $307.87 on Friday. The stock has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a one year low of $240.97 and a one year high of $311.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The business’s 50-day simple moving average is $283.95 and its 200 day simple moving average is $274.67.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the company posted $2.33 EPS. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 21.38%.

Visa 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.