Te Ahumairangi Investment Management Ltd Purchases 3,840 Shares of Visa Inc. $V

Te Ahumairangi Investment Management Ltd lifted its position in shares of Visa Inc. (NYSE:V) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,121 shares of the credit-card processor’s stock after buying an additional 3,840 shares during the quarter. Visa comprises about 2.0% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 12th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Visa were worth $11,050,000 at the end of the most recent reporting period.

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

Visa Stock Performance

V opened at $334.70 on Wednesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a market cap of $609.74 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.95 and a beta of 0.87. The company’s fifty day moving average price is $340.14 and its two-hundred day moving average price is $347.61. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on V shares. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reissued an “overweight” rating and set a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.