Aljian Capital Management LLC Purchases 4,056 Shares of Visa Inc. (NYSE:V)

Aljian Capital Management LLC boosted its position in Visa Inc. (NYSE:V) by 26.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,686 shares of the credit-card processor’s stock after purchasing an additional 4,056 shares during the period. Visa makes up approximately 1.3% of Aljian Capital Management LLC’s holdings, making the stock its 11th largest holding. Aljian Capital Management LLC’s holdings in Visa were worth $5,413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Arjuna Capital boosted its stake in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the period. Custom Index Systems LLC bought a new stake in Visa during the 3rd quarter worth approximately $731,000. Mechanics Bank Trust Department lifted its stake in Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares in the last quarter. Chicago Capital LLC boosted its holdings in Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in shares of Visa by 9.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock valued at $15,299,000 after purchasing an additional 4,988 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on 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. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Visa Trading Up 0.5 %

Visa stock opened at $309.64 on Monday. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The company has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The business’s fifty day simple moving average is $287.04 and its two-hundred day simple moving average is $276.01. 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 (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 EPS. As a group, equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. 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 is presently 24.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Susquehanna increased their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.