Twelve Points Wealth Management LLC Increases Position in Visa Inc. (NYSE:V)

Twelve Points Wealth Management LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,339 shares of the credit-card processor’s stock after purchasing an additional 70 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Visa were worth $1,468,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Visa by 0.6% during 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 purchasing an additional 788,908 shares in the last quarter. Capital International Investors lifted its stake in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors boosted its holdings in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Visa by 2.2% during 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 in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $287.51 on Thursday. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day moving average price of $275.69 and a 200 day moving average price of $272.74. The stock has a market capitalization of $525.83 billion, a P/E ratio of 32.12, a PEG ratio of 1.94 and a beta of 0.96.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. 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 stock in a transaction that occurred on 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 in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Oppenheimer initiated coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.