Troy Asset Management Ltd raised its position in Visa Inc. (NYSE:V - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,613,006 shares of the credit-card processor's stock after purchasing an additional 42,987 shares during the quarter. Visa comprises 14.3% of Troy Asset Management Ltd's investment portfolio, making the stock its biggest position. Troy Asset Management Ltd owned 0.09% of Visa worth $443,496,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor's stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Several equities research analysts recently weighed in on V shares. Monness Crespi & Hardt reaffirmed a "neutral" rating on shares of Visa in a research note on Tuesday, September 24th. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a "buy" rating and a $319.00 target price for the company. Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $321.74.
View Our Latest Analysis on V
Visa stock opened at $307.87 on Friday. The business has a 50 day simple moving average of $283.95 and a 200-day simple moving average of $274.67. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $311.15. 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 stock has a market capitalization of $561.03 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping 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 company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter last year, the business earned $2.33 EPS. The business's revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a boost from Visa's previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa's payout ratio is presently 21.38%.
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company's stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.
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.
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