Visa Inc. (NYSE:V) Shares Bought by Meyer Handelman Co.

Meyer Handelman Co. boosted its stake in shares of Visa Inc. (NYSE:V) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 84,936 shares of the credit-card processor’s stock after purchasing an additional 5,288 shares during the period. Meyer Handelman Co.’s holdings in Visa were worth $23,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new position in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $277.79 on Friday. The business’s 50 day moving average price is $274.16 and its 200-day moving average price is $272.72. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $506.22 billion, a PE ratio of 29.71, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. As a group, equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is presently 22.25%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

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.