Benin Management CORP Increases Position in Visa Inc. (NYSE:V)

Benin Management CORP lifted its holdings in shares of Visa Inc. (NYSE:V) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,551 shares of the credit-card processor’s stock after purchasing an additional 75 shares during the period. Visa accounts for about 3.8% of Benin Management CORP’s portfolio, making the stock its 4th biggest position. Benin Management CORP’s holdings in Visa were worth $13,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Vanguard Group Inc. boosted its holdings in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares in the last quarter. Capital International Investors raised its stake in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors raised its stake in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of 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 worth $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets increased their price objective on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of Visa stock traded down $2.95 during trading hours on Monday, reaching $287.67. The company had a trading volume of 1,120,664 shares, compared to its average volume of 7,088,245. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The business has a fifty day simple moving average of $276.91 and a 200 day simple moving average of $272.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $526.13 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the company earned $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

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.