Visa Inc. (NYSE:V) Shares Purchased by Commerce Bank

Commerce Bank boosted its position in shares of Visa Inc. (NYSE:V) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 700,436 shares of the credit-card processor’s stock after acquiring an additional 5,068 shares during the quarter. Visa comprises about 1.2% of Commerce Bank’s portfolio, making the stock its 12th largest holding. Commerce Bank’s holdings in Visa were worth $192,585,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. WFA Asset Management Corp lifted its position in Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 100 shares during the period. Empowered Funds LLC lifted its holdings in shares of Visa by 16.0% in the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after buying an additional 8,086 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Visa by 346.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,730 shares of the credit-card processor’s stock worth $9,972,000 after buying an additional 27,735 shares during the last quarter. Sax Wealth Advisors LLC acquired a new stake in Visa during the first quarter worth about $220,000. Finally, EP Wealth Advisors LLC raised its position in Visa by 0.6% during the first quarter. EP Wealth Advisors LLC now owns 211,475 shares of the credit-card processor’s stock valued at $59,018,000 after acquiring an additional 1,280 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on V shares. Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Barclays lifted their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Trading Down 0.1 %

V opened at $311.85 on Wednesday. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $288.10 and a 200-day simple moving average of $276.63. The firm has a market cap of $568.29 billion, a P/E ratio of 32.05, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during 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%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.19 earnings per share 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 paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Visa 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.