Whelan Financial Purchases New Shares in Visa Inc. (NYSE:V)

Whelan Financial bought a new stake in Visa Inc. (NYSE:V) during the 3rd quarter, HoldingsChannel reports. The firm bought 821 shares of the credit-card processor’s stock, valued at approximately $226,000.

Other institutional investors have also modified their holdings of the company. WFA Asset Management Corp lifted its stake in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after buying an additional 100 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Visa by 7.4% in the first quarter. Ashton Thomas Private Wealth LLC now owns 31,932 shares of the credit-card processor’s stock worth $8,912,000 after buying an additional 2,199 shares in the last quarter. Edge Financial Advisors LLC purchased a new position in shares of Visa in the first quarter worth about $585,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after buying an additional 16,078 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of Visa in the first quarter worth about $9,574,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on V shares. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup lifted their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, 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. Four 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.70.

Insider Transactions at Visa

In other news, 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $290.74 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $239.20 and a fifty-two week high of $296.34. The stock has a market cap of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The firm’s fifty day simple moving average is $281.00 and its 200-day simple moving average is $273.63.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the company earned $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.

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.