Cardano Risk Management B.V. Buys 243,442 Shares of Visa Inc. (NYSE:V)

Cardano Risk Management B.V. lifted its position in Visa Inc. (NYSE:V) by 48.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 744,806 shares of the credit-card processor’s stock after buying an additional 243,442 shares during the quarter. Visa makes up about 3.6% of Cardano Risk Management B.V.’s holdings, making the stock its 7th largest holding. Cardano Risk Management B.V.’s holdings in Visa were worth $204,784,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. WFA Asset Management Corp raised its stake in Visa by 4.6% during 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 last quarter. Empowered Funds LLC lifted its stake in shares of Visa by 16.0% during the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after acquiring an additional 8,086 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Visa in the first quarter valued at about $2,499,000. Hillsdale Investment Management Inc. increased its position in Visa by 3.5% in the first quarter. Hillsdale Investment Management Inc. now owns 2,166 shares of the credit-card processor’s stock worth $604,000 after purchasing an additional 73 shares during the period. Finally, Covestor Ltd lifted its position in Visa by 12.9% during the 1st quarter. Covestor Ltd now owns 1,563 shares of the credit-card processor’s stock valued at $437,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Susquehanna increased their price objective 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. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

NYSE:V opened at $309.64 on Friday. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44. The business’s fifty day moving average is $287.04 and its 200 day moving average is $275.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The firm has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. Research analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Visa Company 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.