Northeast Financial Group Inc. Purchases 772 Shares of Visa Inc. (NYSE:V)

Northeast Financial Group Inc. grew its stake in Visa Inc. (NYSE:V) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,238 shares of the credit-card processor’s stock after purchasing an additional 772 shares during the period. Visa makes up about 0.8% of Northeast Financial Group Inc.’s portfolio, making the stock its 26th biggest position. Northeast Financial Group Inc.’s holdings in Visa were worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC lifted its stake 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 valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at approximately $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 valued at $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Piper Sandler raised their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Susquehanna raised their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

Shares of V stock opened at $309.67 on Friday. The stock has a market cap of $564.31 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The business has a 50-day simple moving average of $287.04 and a 200-day simple moving average of $275.90. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44.

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 firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 EPS. Visa’s revenue for the quarter 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 year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is 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.