Freemont Management S.A. Boosts Stock Holdings in Visa Inc. (NYSE:V)

Freemont Management S.A. lifted its stake in Visa Inc. (NYSE:V) by 9.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,000 shares of the credit-card processor’s stock after buying an additional 180 shares during the period. Freemont Management S.A.’s holdings in Visa were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $309.51 on Thursday. The company has a market capitalization of $564.02 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $245.34 and a 1-year high of $312.44. The firm’s 50 day simple moving average is $285.26 and its two-hundred day simple moving average is $275.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its 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. 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 the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on V shares. Susquehanna raised their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. TD Cowen raised their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Four equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.