Algert Global LLC Invests $1.78 Million in Visa Inc. (NYSE:V)

Algert Global LLC acquired a new position in Visa Inc. (NYSE:V) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 6,466 shares of the credit-card processor’s stock, valued at approximately $1,778,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at about $26,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the 2nd 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 bought a new stake in shares of Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa in the second quarter valued at approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. 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. Finally, Citigroup lifted their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.9 %

Shares of NYSE:V opened at $314.65 on Thursday. The firm has a fifty day moving average of $290.89 and a two-hundred day moving average of $278.06. 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 Inc. has a 12-month low of $251.61 and a 12-month high of $316.37. The firm has a market capitalization of $586.15 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 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 the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. 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 (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade 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 the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $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.

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.