CX Institutional Acquires 3,523 Shares of Visa Inc. $V

CX Institutional lifted its holdings in shares of Visa Inc. (NYSE:V) by 5.7% in the third quarter, Holdings Channel.com reports. The fund owned 65,283 shares of the credit-card processor’s stock after purchasing an additional 3,523 shares during the quarter. CX Institutional’s holdings in Visa were worth $22,286,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. bought a new position in shares of Visa during the 2nd quarter worth approximately $31,000. Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares in the last quarter. Finally, Bare Financial Services Inc grew its position in Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday, October 29th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $402.52.

Visa Price Performance

Visa stock opened at $349.75 on Friday. The business’s 50-day simple moving average is $340.09 and its 200 day simple moving average is $344.19. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $637.15 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.07 and a beta of 0.81. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 EPS. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 26.25%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 24,042 shares of company stock valued at $8,247,289. Company insiders own 0.12% of the company’s stock.

About Visa

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.