Visa Inc. (NYSE:V) Stake Lifted by Channing Global Advisors LLC

Channing Global Advisors LLC grew its holdings in Visa Inc. (NYSE:V) by 35.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,695 shares of the credit-card processor’s stock after buying an additional 4,401 shares during the period. Visa accounts for approximately 3.9% of Channing Global Advisors LLC’s portfolio, making the stock its 9th largest position. Channing Global Advisors LLC’s holdings in Visa were worth $4,590,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Unionview LLC lifted its holdings in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after buying an additional 33 shares during the period. St. Louis Trust Co grew its holdings in Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 34 shares during the period. FWG Holdings LLC raised its position in Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares in the last quarter. KMG Fiduciary Partners LLC lifted its holdings in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares during the last quarter. Finally, Iron Horse Wealth Management LLC lifted its holdings in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on V shares. Royal Bank of Canada lifted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Macquarie upped their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, Morgan Stanley increased their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four equities 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.9 %

Shares of NYSE V opened at $314.70 on Friday. The business has a 50 day simple moving average of $291.48 and a 200 day simple moving average of $278.31. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $316.37. The stock has a market cap of $586.25 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) 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.