Visa Inc. (NYSE:V) Shares Purchased by Biltmore Family Office LLC

Biltmore Family Office LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,788 shares of the credit-card processor’s stock after acquiring an additional 227 shares during the period. Biltmore Family Office LLC’s holdings in Visa were worth $1,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. WFA Asset Management Corp boosted its stake 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 worth $632,000 after purchasing an additional 100 shares during the last quarter. Guardian Capital LP boosted its position in Visa by 5.8% during the first quarter. Guardian Capital LP now owns 2,691 shares of the credit-card processor’s stock worth $751,000 after acquiring an additional 147 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Visa in the 1st quarter worth approximately $3,609,000. Steel Grove Capital Advisors LLC raised its holdings in Visa by 12.8% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,289 shares of the credit-card processor’s stock valued at $918,000 after acquiring an additional 372 shares during the last quarter. Finally, Tremblant Capital Group lifted its stake in shares of Visa by 122.7% during the 1st quarter. Tremblant Capital Group now owns 4,612 shares of the credit-card processor’s stock worth $1,287,000 after purchasing an additional 2,541 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $310.23 on Friday. Visa Inc. has a 52-week low of $251.61 and a 52-week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $565.32 billion, a PE ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The stock’s 50 day moving average is $289.07 and its two-hundred day moving average is $277.08.

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

Visa Increases Dividend

The company 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. 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 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on V shares. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target 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 research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.