Copley Financial Group Inc. Invests $616,000 in Visa Inc. (NYSE:V)

Copley Financial Group Inc. bought a new position in Visa Inc. (NYSE:V) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,240 shares of the credit-card processor’s stock, valued at approximately $616,000.

Other institutional investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth approximately $26,000. POM Investment Strategies LLC boosted 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 during the third quarter worth approximately $31,000. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the second 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 during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa during the second quarter worth approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

V stock traded up $1.99 on Friday, reaching $316.22. 617,756 shares of the company were exchanged, compared to its average volume of 6,866,684. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The stock’s fifty day moving average price is $298.56 and its 200 day moving average price is $280.71. The firm has a market capitalization of $589.08 billion, a PE ratio of 32.29, a PEG ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its 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. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several research firms recently commented on V. JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Bank of America lifted their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $324.74.

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.