Fifth Third Wealth Advisors LLC lifted its stake in Visa Inc. (NYSE:V – Free Report) by 12.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 27,573 shares of the credit-card processor’s stock after buying an additional 2,991 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Visa were worth $7,581,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of V. WFA Asset Management Corp lifted its stake in shares of Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares during the period. Empowered Funds LLC boosted its holdings in Visa by 16.0% during the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after buying an additional 8,086 shares during the last quarter. Vaughan David Investments LLC IL boosted its holdings in Visa by 68.5% during the first quarter. Vaughan David Investments LLC IL now owns 2,609 shares of the credit-card processor’s stock worth $728,000 after buying an additional 1,061 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Visa by 346.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,730 shares of the credit-card processor’s stock worth $9,972,000 after buying an additional 27,735 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in shares of Visa in the 1st quarter valued at approximately $5,260,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Price Performance
V stock opened at $312.16 on Tuesday. Visa Inc. has a 1 year low of $245.60 and a 1 year high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $568.85 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a 50 day simple moving average of $287.57 and a 200 day simple moving average of $276.32.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on V. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Barclays increased their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.
Check Out Our Latest Stock Report on Visa
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.
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.
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