Spinnaker Investment Group LLC Grows Stake in Visa Inc. (NYSE:V)

Spinnaker Investment Group LLC raised its holdings in Visa Inc. (NYSE:V) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 995 shares of the credit-card processor’s stock after purchasing an additional 68 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Visa were worth $274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC increased its stake in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. National Bank of Canada FI raised its holdings in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB purchased a new stake in Visa during the 1st quarter worth $511,321,000. Finally, GQG Partners LLC grew its stake in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on V shares. Jefferies Financial Group boosted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Susquehanna increased their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Four 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

Shares of NYSE V opened at $309.64 on Friday. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44. The firm has a market capitalization of $564.26 billion, a PE ratio of 31.82, a P/E/G ratio of 2.07 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. The business’s fifty day moving average price is $287.04 and its two-hundred day moving average price is $275.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 EPS. Visa’s revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

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.