Robbins Farley Raises Stock Position in Visa Inc. $V

Robbins Farley raised its stake in shares of Visa Inc. (NYSE:V) by 13.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 15,292 shares of the credit-card processor’s stock after buying an additional 1,757 shares during the quarter. Visa makes up about 2.2% of Robbins Farley’s holdings, making the stock its 18th largest holding. Robbins Farley’s holdings in Visa were worth $5,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after buying an additional 21,401 shares in the last quarter. Precedent Wealth Partners LLC lifted its position in shares of Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after acquiring an additional 111 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after acquiring an additional 5,295 shares during the period. Consilium Wealth Advisory LLC purchased a new stake in shares of Visa during the second quarter worth about $862,000. Finally, Iron Gate Global Advisors LLC grew its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price for the company in a research report on Thursday, December 11th. Macquarie decreased their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, HSBC raised Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $402.52.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.12% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $355.09 on Friday. The firm has a fifty day simple moving average of $338.61 and a two-hundred day simple moving average of $344.32. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $646.87 billion, a P/E ratio of 34.78, a PEG ratio of 2.09 and a beta of 0.82.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 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 the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.