Garrison Asset Management LLC boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 1,919 shares of the credit-card processor’s stock after purchasing an additional 49 shares during the period. Garrison Asset Management LLC’s holdings in Visa were worth $528,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hilltop National Bank bought a new stake in Visa during the first quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new position in Visa in the 1st quarter valued at $404,000. Davidson Capital Management Inc. raised its holdings in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares during the period. Empirical Finance LLC lifted its position in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after acquiring an additional 1,914 shares during the last quarter. Finally, Arjuna Capital boosted its holdings in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Visa Stock Up 0.4 %
Shares of V opened at $291.85 on Tuesday. The business’s 50 day simple moving average is $281.47 and its 200-day simple moving average is $273.80. Visa Inc. has a one year low of $240.97 and a one year high of $296.34. The company has a market capitalization of $531.84 billion, a P/E ratio of 29.99, a PEG ratio of 1.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.
Visa Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a positive change 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 of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently weighed in on V. Susquehanna boosted their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $321.74.
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.
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