Pegasus Partners Ltd. Acquires 1,121 Shares of Visa Inc. (NYSE:V)

Pegasus Partners Ltd. raised its holdings in Visa Inc. (NYSE:V) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,437 shares of the credit-card processor’s stock after acquiring an additional 1,121 shares during the period. Visa makes up 0.5% of Pegasus Partners Ltd.’s investment portfolio, making the stock its 28th largest position. Pegasus Partners Ltd.’s holdings in Visa were worth $5,069,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. KMG Fiduciary Partners LLC lifted its position in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares in the last quarter. Washington Trust Bank grew its holdings in shares of Visa by 1.1% during the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares during the last quarter. Tlwm raised its position in Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares during the period. Finally, Meridian Financial Partners LLC lifted its stake in Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

Shares of V opened at $307.87 on Friday. The business’s 50 day moving average is $283.95 and its 200 day moving average is $274.67. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $240.97 and a 12-month high of $311.15. The company has a market capitalization of $561.03 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

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 the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business posted $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal 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 dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is presently 21.38%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. TD Cowen upped their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four research 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 company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Transactions at Visa

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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.