Visa Inc. (NYSE:V) Shares Purchased by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. lifted its position in Visa Inc. (NYSE:V) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,275 shares of the credit-card processor’s stock after purchasing an additional 127 shares during the quarter. Visa makes up 0.2% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 21st biggest holding. Manitou Investment Management Ltd.’s holdings in Visa were worth $900,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Visa during the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V stock opened at $290.74 on Friday. Visa Inc. has a 52-week low of $239.20 and a 52-week high of $296.34. The stock’s fifty day simple moving average is $281.00 and its 200-day simple moving average is $273.63. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the firm earned $2.33 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.17 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 21.38%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup increased their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Cowen increased their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Susquehanna increased their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday. 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. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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.