Visa Inc. $V Shares Acquired by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 60.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,965 shares of the credit-card processor’s stock after acquiring an additional 3,394 shares during the period. Greenup Street Wealth Management LLC’s holdings in Visa were worth $3,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new position in Visa during the 2nd quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. lifted its stake in shares of Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after buying an additional 2,429,996 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.0%

Shares of V stock opened at $355.09 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a market cap of $646.87 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.09 and a beta of 0.82. The stock has a 50 day moving average of $338.61 and a 200 day moving average of $344.13. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 26.25%.

Analysts Set New Price Targets

A number of brokerages have commented on V. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. HSBC upgraded shares of Visa from a “hold” rating to a “buy” rating and increased their price target for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Finally, Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Buy” and an average price target of $402.52.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.