Overbrook Management Corp Has $16.73 Million Stock Holdings in Visa Inc. (NYSE:V)

Overbrook Management Corp grew its position in shares of Visa Inc. (NYSE:V) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,845 shares of the credit-card processor’s stock after purchasing an additional 2,820 shares during the quarter. Visa makes up 3.8% of Overbrook Management Corp’s holdings, making the stock its 11th biggest holding. Overbrook Management Corp’s holdings in Visa were worth $16,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter worth approximately $26,000. POM Investment Strategies LLC boosted its position 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 buying an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted its position in Visa by 211.9% in the second 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. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa in the second quarter worth $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Visa Stock Down 1.4 %

Visa stock opened at $307.39 on Thursday. The firm has a market cap of $560.16 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.09 and a beta of 0.95. Visa Inc. has a 12 month low of $250.03 and a 12 month high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $288.57 and a two-hundred day simple moving average of $276.84.

Visa (NYSE:V) last released 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. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. Equities analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed 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. 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. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.