Novare Capital Management LLC Grows Position in Visa Inc. (NYSE:V)

Novare Capital Management LLC increased its position in shares of Visa Inc. (NYSE:V) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,898 shares of the credit-card processor’s stock after purchasing an additional 340 shares during the period. Novare Capital Management LLC’s holdings in Visa were worth $9,320,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors boosted its position in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors boosted its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. boosted its position in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its position in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

Visa Stock Performance

Visa stock traded up $2.24 during mid-day trading on Monday, reaching $280.08. 1,082,620 shares of the company traded hands, compared to its average volume of 7,098,297. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a market capitalization of $512.25 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm’s fifty day moving average is $274.16 and its two-hundred day moving average is $272.62.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the business posted $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.