Pacer Advisors Inc. Has $46.50 Million Stock Holdings in Visa Inc. (NYSE:V)

Pacer Advisors Inc. lifted its stake in Visa Inc. (NYSE:V) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,108 shares of the credit-card processor’s stock after purchasing an additional 20,323 shares during the period. Pacer Advisors Inc.’s holdings in Visa were worth $46,496,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of V. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter valued at $26,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during 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 period. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Macquarie upped their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Up 0.9 %

Visa stock opened at $310.23 on Friday. The firm has a 50 day moving average price of $289.07 and a 200-day moving average price of $277.08. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $312.44. The company has a market capitalization of $565.32 billion, a P/E ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s 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.