Soros Capital Management LLC Makes New $2.23 Million Investment in Visa Inc. (NYSE:V)

Soros Capital Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,107 shares of the credit-card processor’s stock, valued at approximately $2,229,000.

Several other institutional investors and hedge funds have also made changes to their positions in V. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at about $26,000. 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 Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC increased its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America boosted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Jefferies Financial Group boosted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Four research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Price Performance

V stock opened at $311.82 on Wednesday. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $314.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50 day moving average price is $290.37 and its 200 day moving average price is $277.80. The firm has a market cap of $580.88 billion, a P/E ratio of 32.05, a PEG ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last posted 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 firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Visa’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

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 paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

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.