Visa Inc. (NYSE:V) Holdings Lifted by Joseph Group Capital Management

Joseph Group Capital Management boosted its holdings in Visa Inc. (NYSE:V) by 28.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,422 shares of the credit-card processor’s stock after acquiring an additional 3,236 shares during the quarter. Visa comprises about 1.5% of Joseph Group Capital Management’s investment portfolio, making the stock its 18th biggest holding. Joseph Group Capital Management’s holdings in Visa were worth $3,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Peterson Financial Group Inc. acquired a new stake in Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% in 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 shares of Visa during the third quarter worth $31,000. TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% during the second 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 last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.8 %

Shares of V opened at $312.16 on Tuesday. The firm has a market cap of $568.85 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The firm’s 50-day simple moving average is $287.57 and its 200 day simple moving average is $276.32.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. TD Cowen boosted their target price 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. BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four investment 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 stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.