Connors Investor Services Inc. Acquires 3,572 Shares of Visa Inc. $V

Connors Investor Services Inc. lifted its holdings in shares of Visa Inc. (NYSE:VFree Report) by 8.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 46,935 shares of the credit-card processor’s stock after acquiring an additional 3,572 shares during the period. Connors Investor Services Inc.’s holdings in Visa were worth $16,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of V. Insight Wealth Strategies LLC grew its position in Visa by 1.6% in the third quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares during the last quarter. Old Port Advisors lifted its holdings in shares of Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after acquiring an additional 29 shares during the last quarter. Carr Financial Group Corp boosted its stake in shares of Visa by 2.4% in the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after purchasing an additional 30 shares in the last quarter. Define Financial LLC boosted its stake in shares of Visa by 4.0% in the 3rd quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after purchasing an additional 30 shares in the last quarter. Finally, Patron Partners LLC grew its holdings in shares of Visa by 0.6% during the 3rd quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective for the company in a research report on Monday, February 2nd. TD Cowen restated a “buy” rating on shares of Visa in a research report on Friday, January 30th. Rothschild & Co Redburn set a $385.00 price target on shares of Visa in a report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Finally, Evercore set a $380.00 price objective on Visa in a report on Friday, December 12th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $392.65.

View Our Latest Report on V

Visa Trading Down 3.0%

Shares of V stock opened at $299.09 on Thursday. Visa Inc. has a 1-year low of $298.50 and a 1-year high of $375.51. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a market cap of $542.90 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.77 and a beta of 0.78. The stock has a 50-day moving average of $322.51 and a 200-day moving average of $335.07.

Visa (NYSE:VGet Free Report) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a $0.67 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s payout ratio is 25.14%.

More Visa News

Here are the key news stories impacting Visa this week:

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 650 shares of Visa stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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