Bank of Marin Boosts Stock Position in Visa Inc. (NYSE:V)

Bank of Marin boosted its holdings in shares of Visa Inc. (NYSE:V) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,180 shares of the credit-card processor’s stock after purchasing an additional 133 shares during the period. Bank of Marin’s holdings in Visa were worth $1,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors increased its holdings in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors lifted its stake in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the period. Ameriprise Financial Inc. boosted its holdings in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.1 %

Shares of Visa stock traded down $0.22 on Friday, reaching $308.03. The company had a trading volume of 691,218 shares, compared to its average volume of 6,974,698. The firm has a market cap of $561.33 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm’s 50-day moving average price is $286.44 and its two-hundred day moving average price is $275.64. Visa Inc. has a 1 year low of $245.60 and a 1 year high of $312.44.

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, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.19 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. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna increased their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. 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 MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

Visa Company 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.