Visa Inc. (NYSE:V) Stake Boosted by William Allan Corp

William Allan Corp increased its position in Visa Inc. (NYSE:V) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,831 shares of the credit-card processor’s stock after buying an additional 47 shares during the period. Visa accounts for 2.6% of William Allan Corp’s portfolio, making the stock its 16th largest holding. William Allan Corp’s holdings in Visa were worth $4,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of V. Peterson Financial Group Inc. bought a new stake in Visa during the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC grew its position in shares of 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 purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC bought a new stake in Visa during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased 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. Finally, Morgan Stanley boosted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

Shares of Visa stock opened at $314.70 on Friday. The stock has a market cap of $586.25 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 2.11 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $316.37. The company’s fifty day moving average is $291.48 and its 200 day moving average is $278.31.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current 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 issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

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.