Visa Inc. (NYSE:V) Shares Acquired by Costello Asset Management INC

Costello Asset Management INC boosted its holdings in Visa Inc. (NYSE:V) by 11.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,455 shares of the credit-card processor’s stock after purchasing an additional 855 shares during the quarter. Visa comprises approximately 1.6% of Costello Asset Management INC’s portfolio, making the stock its 25th biggest position. Costello Asset Management INC’s holdings in Visa were worth $2,325,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in V. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the 2nd quarter valued at $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Up 0.7 %

Shares of V opened at $307.87 on Monday. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $311.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $283.95 and a 200-day simple moving average of $274.67. The stock has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share 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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. Equities analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Mizuho lifted their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.