Visa Inc. (NYSE:V) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. boosted its position in Visa Inc. (NYSE:V) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 585,102 shares of the credit-card processor’s stock after purchasing an additional 2,318 shares during the period. Visa makes up about 1.1% of Congress Asset Management Co.’s portfolio, making the stock its 15th largest holding. Congress Asset Management Co.’s holdings in Visa were worth $160,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in V. 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 valued at $28,000 after buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa in the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the 2nd quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC raised its stake in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Visa Stock Performance

NYSE V opened at $289.89 on Friday. The firm has a market cap of $528.27 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.00 and a beta of 0.96. The company has a 50 day moving average of $280.53 and a 200-day moving average of $273.50. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $232.99 and a 1-year high of $296.34.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.12 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is presently 21.38%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. TD Cowen upped their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup upped their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $320.07.

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.