Visa Inc. (NYSE:V) Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. raised its stake in Visa Inc. (NYSE:V) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the credit-card processor’s stock after buying an additional 9,500 shares during the period. Visa accounts for 2.4% of Nicola Wealth Management LTD.’s holdings, making the stock its 7th largest holding. Nicola Wealth Management LTD.’s holdings in Visa were worth $26,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% during 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 last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen raised their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of Visa stock traded up $1.17 on Thursday, hitting $310.65. 797,701 shares of the company traded hands, compared to its average volume of 6,986,759. Visa Inc. has a 12-month low of $245.34 and a 12-month high of $312.44. The firm’s 50-day simple moving average is $285.84 and its 200 day simple moving average is $275.41. The company has a market cap of $566.10 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

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.