Atom Investors LP increased its stake in Visa Inc. (NYSE:V – Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,687 shares of the credit-card processor’s stock after acquiring an additional 327 shares during the period. Visa makes up about 1.3% of Atom Investors LP’s holdings, making the stock its 5th largest holding. Atom Investors LP’s holdings in Visa were worth $12,287,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of V. Arjuna Capital raised its stake in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC acquired a new stake in Visa in the third quarter valued at $731,000. Mechanics Bank Trust Department raised its stake in Visa by 8.0% in the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares in the last quarter. Chicago Capital LLC increased its position in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in shares of Visa during the third quarter worth about $7,987,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Visa Stock Performance
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 EPS. Research analysts expect that Visa Inc. will post 11.19 EPS 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 issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.
Analyst Ratings Changes
A number of analysts have recently commented on V shares. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Four 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.
Check Out Our Latest Report on Visa
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.
Featured Stories
- Five stocks we like better than Visa
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Analog Devices: Why the Uptrend Could Accelerate in 2025
- What Are Dividend Achievers? An Introduction
- Texas Pacific Land: Permian Basin Powerhouse With an AI Edge
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- ServiceNow: Will the High-Flyer Finally Split in 2024?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.