Firetrail Investments PTY Ltd. Boosts Stock Holdings in Visa Inc. (NYSE:V)

Firetrail Investments PTY Ltd. raised its stake in Visa Inc. (NYSE:V) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,015 shares of the credit-card processor’s stock after buying an additional 414 shares during the period. Visa comprises 4.7% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 5th biggest holding. Firetrail Investments PTY Ltd.’s holdings in Visa were worth $16,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in V. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% during 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 during the period. Reston Wealth Management LLC bought a new position in Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC increased its position in Visa by 211.9% during 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 period. Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on V shares. Barclays upped their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Performance

NYSE:V opened at $309.51 on Thursday. 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 has a market capitalization of $564.02 billion, a PE ratio of 31.81, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.34 and a fifty-two week high of $312.44. The company has a fifty day moving average of $285.26 and a two-hundred day moving average of $275.17.

Visa (NYSE:V) last released its quarterly 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 net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In other 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 value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate 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.