Keynote Financial Services LLC Makes New Investment in Visa Inc. (NYSE:V)

Keynote Financial Services LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 848 shares of the credit-card processor’s stock, valued at approximately $237,000.

A number of other institutional investors have also modified their holdings of V. Norges Bank purchased a new stake in shares of Visa in the fourth quarter valued at approximately $3,895,015,000. International Assets Investment Management LLC boosted its stake in shares of Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after buying an additional 4,710,188 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares in the last quarter. Swedbank AB purchased a new stake in shares of Visa in the first quarter valued at approximately $511,321,000. Finally, GQG Partners LLC boosted its stake in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on V shares. Mizuho increased their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Morgan Stanley decreased their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Wedbush increased their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Visa Price Performance

NYSE V traded up $0.65 during trading hours on Friday, reaching $266.58. 7,017,857 shares of the company’s stock were exchanged, compared to its average volume of 7,476,283. The stock has a market cap of $487.56 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The firm has a fifty day moving average of $268.91 and a 200-day moving average of $274.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. On average, equities research analysts predict that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.