Boussard & Gavaudan Investment Management LLP Invests $27.43 Million in Visa Inc. (NYSE:V)

Boussard & Gavaudan Investment Management LLP acquired a new position in Visa Inc. (NYSE:V) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the credit-card processor’s stock, valued at approximately $27,425,000. Visa makes up approximately 2.5% of Boussard & Gavaudan Investment Management LLP’s portfolio, making the stock its 13th largest position.

Several other hedge funds have also recently made changes to their positions in V. WFA Asset Management Corp raised its position in shares of Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares in the last quarter. ARQ Wealth Advisors LLC bought a new stake in Visa in the 1st quarter valued at about $397,000. PGGM Investments increased its position in Visa by 7.4% in the 1st quarter. PGGM Investments now owns 204,034 shares of the credit-card processor’s stock valued at $56,942,000 after buying an additional 14,092 shares in the last quarter. Cetera Investment Advisers increased its position in Visa by 303.8% in the 1st quarter. Cetera Investment Advisers now owns 652,881 shares of the credit-card processor’s stock valued at $182,206,000 after buying an additional 491,179 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in Visa by 57.7% in the 1st quarter. Cetera Advisors LLC now owns 167,187 shares of the credit-card processor’s stock valued at $46,659,000 after buying an additional 61,141 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.9 %

NYSE:V opened at $314.65 on Thursday. The company has a market cap of $586.15 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.10 and a beta of 0.95. The stock’s fifty day moving average price is $290.89 and its two-hundred day moving average price is $278.06. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $316.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick 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, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is presently 24.25%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Macquarie boosted their price objective on 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 boosted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Visa Company 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.