Visa Inc. (NYSE:V) Position Increased by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC increased its stake in Visa Inc. (NYSE:V) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,141 shares of the credit-card processor’s stock after acquiring an additional 677 shares during the period. Chartwell Investment Partners LLC’s holdings in Visa were worth $6,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. POM Investment Strategies LLC increased its position in Visa by 970.0% in the 2nd 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 period. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter valued at $31,000. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the 2nd quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Price Performance

V opened at $310.98 on Tuesday. The stock has a market cap of $566.70 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.06 and a beta of 0.95. Visa Inc. has a 1 year low of $244.11 and a 1 year high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $283.95 and a 200 day moving average price of $274.67.

Visa (NYSE:V) last released its quarterly earnings data 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. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 earnings per share. Analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 21.38%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.