Paradigm Capital Management LLC NV Acquires Shares of 3,759 Visa Inc. (NYSE:V)

Paradigm Capital Management LLC NV bought a new position in Visa Inc. (NYSE:V) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 3,759 shares of the credit-card processor’s stock, valued at approximately $1,034,000. Visa comprises about 1.0% of Paradigm Capital Management LLC NV’s holdings, making the stock its 29th largest position.

Several other hedge funds have also recently made changes to their positions in the business. Peterson Financial Group Inc. purchased a new position in Visa during the third quarter worth $26,000. POM Investment Strategies LLC lifted its holdings in shares of 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 position in shares of Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd 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 last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in Visa in the 2nd quarter worth about $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V opened at $315.08 on Friday. Visa Inc. has a fifty-two week low of $252.14 and a fifty-two week high of $316.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $586.96 billion, a PE ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95. The business has a 50-day simple moving average of $292.09 and a two-hundred day simple moving average of $278.57.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.