iA Global Asset Management Inc. Has $144.64 Million Position in Visa Inc. (NYSE:V)

iA Global Asset Management Inc. raised its stake in Visa Inc. (NYSE:V) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 526,069 shares of the credit-card processor’s stock after acquiring an additional 17,493 shares during the quarter. Visa comprises 2.5% of iA Global Asset Management Inc.’s holdings, making the stock its 7th largest position. iA Global Asset Management Inc.’s holdings in Visa were worth $144,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Peterson Financial Group Inc. bought a new position in Visa during the third quarter worth about $26,000. POM Investment Strategies LLC increased its holdings 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 during the period. Reston Wealth Management LLC acquired a new stake in shares of Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted 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 valued at $34,000 after buying an additional 89 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Up 0.6 %

V stock opened at $310.89 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $317.42. The stock has a market cap of $579.15 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96. 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 company’s 50 day moving average is $295.00 and its 200 day moving average is $279.46.

Visa (NYSE:V) last released 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 return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 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.