Accredited Investors Inc. Raises Stock Holdings in Visa Inc. (NYSE:V)

Accredited Investors Inc. raised its position in shares of Visa Inc. (NYSE:V) by 9.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,397 shares of the credit-card processor’s stock after buying an additional 534 shares during the quarter. Accredited Investors Inc.’s holdings in Visa were worth $1,759,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of V. Capital International Investors raised its holdings in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors grew its position in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

V opened at $309.64 on Friday. The firm has a market capitalization of $564.26 billion, a PE ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. The firm’s 50-day moving average price is $287.04 and its 200 day moving average price is $275.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is an increase 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 (DPR) is 24.25%.

Analyst Ratings Changes

Several research analysts recently weighed in on V shares. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lifted their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup lifted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a 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 objective for the company in a research report on Tuesday, September 3rd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.