UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 123,927 Shares of Visa Inc. (NYSE:V)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Visa Inc. (NYSE:V) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 11,597,969 shares of the credit-card processor’s stock after purchasing an additional 123,927 shares during the quarter. Visa comprises about 0.8% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 14th biggest holding. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Visa were worth $3,188,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Noesis Capital Mangement Corp grew its holdings in Visa by 76.7% during the 3rd quarter. Noesis Capital Mangement Corp now owns 52,645 shares of the credit-card processor’s stock valued at $14,475,000 after buying an additional 22,853 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Visa by 5.0% during the third quarter. Public Sector Pension Investment Board now owns 545,739 shares of the credit-card processor’s stock worth $150,051,000 after acquiring an additional 25,800 shares during the last quarter. Fiduciary Trust Co grew its stake in Visa by 2.1% during the third quarter. Fiduciary Trust Co now owns 133,858 shares of the credit-card processor’s stock valued at $36,804,000 after acquiring an additional 2,697 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new stake in Visa in the 3rd quarter valued at $27,425,000. Finally, FORA Capital LLC purchased a new stake in Visa in the 3rd quarter worth $7,987,000. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

V opened at $314.65 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $290.89 and its 200-day simple moving average is $278.06. The company has a market capitalization of $586.15 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.10 and a beta of 0.95. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $316.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed 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. This is an increase 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 yield of 0.75%. Visa’s payout ratio is 24.25%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was 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 the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

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.