Keynote Financial Services LLC Increases Stake in Visa Inc. (NYSE:V)

Keynote Financial Services LLC lifted its position in Visa Inc. (NYSE:V) by 10.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 933 shares of the credit-card processor’s stock after buying an additional 85 shares during the period. Keynote Financial Services LLC’s holdings in Visa were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in V. Hilltop National Bank bought a new position in shares of Visa in the 1st quarter worth $1,212,000. Davidson Capital Management Inc. grew its stake in Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC raised its holdings in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Arjuna Capital lifted its position in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the last quarter. Finally, Custom Index Systems LLC purchased a new stake in shares of Visa during the third quarter valued at about $731,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on V. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna raised their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Down 0.5 %

Visa stock opened at $305.76 on Friday. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $309.00. The firm has a market cap of $557.19 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The business’s 50-day moving average price is $282.69 and its 200 day moving average price is $274.20. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 21.38%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

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.