South Street Advisors LLC Has $19.25 Million Position in Visa Inc. (NYSE:V)

South Street Advisors LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,027 shares of the credit-card processor’s stock after selling 2,732 shares during the quarter. Visa comprises 2.9% of South Street Advisors LLC’s portfolio, making the stock its 13th biggest holding. South Street Advisors LLC’s holdings in Visa were worth $19,254,000 as of its most recent SEC filing.

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.5 %

NYSE V traded up $1.39 on Friday, hitting $309.64. The company’s stock had a trading volume of 5,106,284 shares, compared to its average volume of 5,762,525. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $287.04 and its 200 day simple moving average is $275.90. The firm has a market cap of $564.26 billion, a P/E ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company 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%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $2.33 EPS. Research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. 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%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.