Visa Inc. (NYSE:V) is AIA Group Ltd’s 9th Largest Position

AIA Group Ltd grew its holdings in shares of Visa Inc. (NYSE:V) by 11.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,335 shares of the credit-card processor’s stock after purchasing an additional 27,439 shares during the period. Visa comprises about 1.8% of AIA Group Ltd’s portfolio, making the stock its 9th biggest position. AIA Group Ltd’s holdings in Visa were worth $71,029,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth $31,000. TruNorth Capital Management LLC raised 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 acquiring an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $307.92 on Friday. The firm has a market cap of $561.13 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.06 and a beta of 0.95. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $311.15. The business’s 50-day moving average price is $283.95 and its 200 day moving average price is $274.67. 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 (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $2.33 EPS. On average, equities research analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.