IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Visa Inc. (NYSE:V)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Visa Inc. (NYSE:V) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,389 shares of the credit-card processor’s stock after acquiring an additional 2,118 shares during the period. Visa comprises approximately 1.1% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 14th largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Visa were worth $10,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC grew its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa during the 2nd quarter worth $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $287.51 on Thursday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The stock has a market capitalization of $525.83 billion, a P/E ratio of 32.12, a P/E/G ratio of 1.94 and a beta of 0.96. The firm’s 50-day moving average is $275.69 and its two-hundred day moving average is $272.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on V shares. Royal Bank of Canada dropped their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $313.81.

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.