Visa Inc. (NYSE:V) Holdings Boosted by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC grew its holdings in Visa Inc. (NYSE:V) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 14,033 shares of the credit-card processor’s stock after purchasing an additional 256 shares during the period. SevenBridge Financial Group LLC’s holdings in Visa were worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. WFA Asset Management Corp increased its holdings in shares of Visa by 4.6% in the 1st 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. Lavaca Capital LLC purchased a new position in Visa during the first quarter valued at approximately $249,000. Caxton Associates LP increased its stake in Visa by 431.3% in the 1st quarter. Caxton Associates LP now owns 53,088 shares of the credit-card processor’s stock valued at $14,816,000 after buying an additional 43,096 shares during the period. Zurich Insurance Group Ltd FI lifted its position in Visa by 0.3% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 583,343 shares of the credit-card processor’s stock worth $162,799,000 after buying an additional 2,015 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Visa by 13.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 148,553 shares of the credit-card processor’s stock valued at $41,458,000 after buying an additional 17,887 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Susquehanna boosted their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Up 0.0 %

V stock opened at $309.92 on Friday. Visa Inc. has a twelve month low of $251.61 and a twelve month 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 company has a market cap of $577.34 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The business’s 50-day simple moving average is $289.52 and its 200 day simple moving average is $277.34.

Visa (NYSE:V) last announced its quarterly earnings data 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. The company 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%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. On average, research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. 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. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

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.