New Millennium Group LLC Has $1.05 Million Stock Holdings in Visa Inc. (NYSE:V)

New Millennium Group LLC increased its position in Visa Inc. (NYSE:V) by 257.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,824 shares of the credit-card processor’s stock after buying an additional 2,753 shares during the quarter. New Millennium Group LLC’s holdings in Visa were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the second 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 bought a new stake in Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.6 %

NYSE:V opened at $310.21 on Tuesday. The firm’s 50 day moving average is $287.57 and its 200 day moving average is $276.32. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The stock has a market capitalization of $565.30 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.19 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on V. Piper Sandler raised 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Morgan Stanley increased their target price 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. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently 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.