Westfield Capital Management Co. LP Boosts Stake in Visa Inc. (NYSE:V)

Westfield Capital Management Co. LP grew its stake in Visa Inc. (NYSE:V) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 896,716 shares of the credit-card processor’s stock after acquiring an additional 14,268 shares during the quarter. Visa comprises about 1.1% of Westfield Capital Management Co. LP’s portfolio, making the stock its 13th biggest position. Westfield Capital Management Co. LP’s holdings in Visa were worth $246,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new stake in Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the 3rd quarter valued at $31,000. TruNorth Capital Management LLC boosted its position in shares of Visa by 211.9% in the 2nd 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 in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa in the 2nd quarter worth $35,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % 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. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on V shares. JPMorgan Chase & Co. increased their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Macquarie raised their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Trading Up 0.0 %

Shares of Visa stock opened at $309.92 on Friday. The firm has a 50-day simple moving average of $289.52 and a two-hundred day simple moving average of $277.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $312.44. The company has a market cap of $577.34 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. 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 yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.