Visa Inc. (NYSE:V) Position Boosted by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 1.5% during the 3rd quarter, Holdings Channel reports. The fund owned 1,119,205 shares of the credit-card processor’s stock after purchasing an additional 17,023 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Visa were worth $307,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC raised its holdings in 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 in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% in the second 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 period. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Trading Up 0.7 %

Shares of NYSE:V opened at $307.87 on Monday. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $311.15. 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 company has a market cap of $561.03 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. The stock’s 50-day moving average is $283.95 and its 200-day moving average is $274.67.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during 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%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Equities research analysts predict that Visa Inc. will post 11.18 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. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

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.