Pittenger & Anderson Inc. Acquires 697 Shares of Visa Inc. (NYSE:V)

Pittenger & Anderson Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,878 shares of the credit-card processor’s stock after buying an additional 697 shares during the period. Visa makes up 1.1% of Pittenger & Anderson Inc.’s holdings, making the stock its 20th biggest holding. Pittenger & Anderson Inc.’s holdings in Visa were worth $28,836,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp lifted its holdings in shares of Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in 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 valued at $14,046,000 after buying an additional 16,078 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Visa in the first quarter valued at approximately $5,681,000. Liberty Wealth Management LLC bought a new stake in shares of Visa during the first quarter worth $5,333,000. Finally, Comprehensive Financial Consultants Institutional Inc. raised its holdings in shares of Visa by 6.5% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,557 shares of the credit-card processor’s stock worth $2,109,000 after acquiring an additional 460 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on V shares. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird raised 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. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.5 %

NYSE V opened at $293.36 on Wednesday. The stock has a market cap of $534.59 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $296.34. The stock has a 50 day simple moving average of $281.92 and a two-hundred day simple moving average of $273.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.