Visa Inc. (NYSE:V) Shares Acquired by Planning Capital Management Corp

Planning Capital Management Corp boosted its holdings in Visa Inc. (NYSE:V) by 34.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,121 shares of the credit-card processor’s stock after acquiring an additional 1,580 shares during the quarter. Visa comprises about 1.1% of Planning Capital Management Corp’s investment portfolio, making the stock its 22nd biggest holding. Planning Capital Management Corp’s holdings in Visa were worth $1,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Arjuna Capital raised its holdings in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. Custom Index Systems LLC acquired a new stake in Visa during the 3rd quarter worth about $731,000. Mechanics Bank Trust Department raised its holdings in Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after buying an additional 2,410 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares during the period. Finally, Chicago Capital LLC increased its holdings in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on V. Piper Sandler upped their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen raised their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

Shares of V stock opened at $309.51 on Thursday. The stock has a 50-day moving average price of $285.84 and a 200 day moving average price of $275.41. 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 firm has a market cap of $564.02 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a 12 month low of $245.34 and a 12 month high of $312.44.

Visa (NYSE:V) last posted its earnings results 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. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. Research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. 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 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Transactions at Visa

In other 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 transaction of $2,382,309.40. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.