Fox Run Management L.L.C. Makes New Investment in Visa Inc. $V

Fox Run Management L.L.C. bought a new stake in shares of Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,183 shares of the credit-card processor’s stock, valued at approximately $775,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa in the second quarter worth $29,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Hoese & Co LLP bought a new stake in Visa during the second quarter valued at $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Price Performance

Shares of Visa stock opened at $335.91 on Monday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market capitalization of $615.66 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The company has a fifty day moving average of $343.52 and a 200-day moving average of $348.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,897 shares of company stock worth $8,164,561 in the last ninety days. 0.13% of the stock is owned by insiders.

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.