Phraction Management LLC Acquires 41 Shares of Visa Inc. (NYSE:V)

Phraction Management LLC boosted its stake in Visa Inc. (NYSE:V) by 0.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 22,330 shares of the credit-card processor’s stock after buying an additional 41 shares during the period. Visa makes up 2.2% of Phraction Management LLC’s portfolio, making the stock its 17th largest holding. Phraction Management LLC’s holdings in Visa were worth $6,140,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in V. POM Investment Strategies LLC boosted its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa in the third quarter worth approximately $31,000. TruNorth Capital Management LLC boosted 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. Bbjs Financial Advisors LLC bought a new position in shares of Visa in the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on V shares. JPMorgan Chase & Co. increased their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $321.00 price objective (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 0.5 %

V opened at $309.64 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The stock’s 50 day moving average price is $287.04 and its 200-day moving average price is $275.95. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The stock has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Visa Company Profile

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.