2,568 Shares in Visa Inc. $V Purchased by Permanent Capital Management LP

Permanent Capital Management LP bought a new stake in shares of Visa Inc. (NYSE:V) during the third quarter, HoldingsChannel reports. The institutional investor bought 2,568 shares of the credit-card processor’s stock, valued at approximately $877,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Visa in the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. raised its position in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares during the period. Vanguard Group Inc. lifted its stake in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after purchasing an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.3%

NYSE:V opened at $353.69 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day simple moving average is $338.94 and its 200-day simple moving average is $343.82. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The stock has a market capitalization of $644.33 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the company posted $2.71 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side 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. Investors of record on Wednesday, November 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,557 shares of company stock worth $4,586,137. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, UBS Group set a $425.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $402.52.

Visa 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.