Bank of Marin Increases Stake in Visa Inc. (NYSE:V)

Bank of Marin increased its holdings in Visa Inc. (NYSE:V) by 3.3% in the third quarter, Holdings Channel reports. The fund owned 4,180 shares of the credit-card processor’s stock after purchasing an additional 133 shares during the quarter. Bank of Marin’s holdings in Visa were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the second quarter worth $35,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on V shares. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Barclays raised their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Macquarie raised their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Price Performance

Shares of NYSE:V traded down $0.22 during trading on Friday, reaching $308.03. 691,218 shares of the company’s stock traded hands, compared to its average volume of 6,974,698. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The company has a 50-day simple moving average of $286.44 and a 200-day simple moving average of $275.64. The firm has a market cap of $561.33 billion, a PE ratio of 31.71, a P/E/G ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating 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 quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. As a group, analysts predict 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 given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio is currently 24.25%.

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.