Visa Inc. (NYSE:V) Shares Purchased by Firetrail Investments PTY Ltd.

by · The Cerbat Gem

Firetrail Investments PTY Ltd. raised its position in Visa Inc. (NYSE:V – Free Report) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,015 shares of the credit-card processor’s stock after purchasing an additional 414 shares during the quarter. Visa comprises 4.7% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 5th biggest position. Firetrail Investments PTY Ltd.’s holdings in Visa were worth $16,484,000 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. KMG Fiduciary Partners LLC increased its position in Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after purchasing an additional 37 shares during the period. Washington Trust Bank lifted its stake in shares of Visa by 1.1% during the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after purchasing an additional 37 shares in the last quarter. Proffitt & Goodson Inc. boosted its position in shares of Visa by 20.3% in the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock worth $60,000 after buying an additional 37 shares during the period. Finally, Tlwm raised its holdings in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Macquarie increased their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Check Out Our Latest Report on Visa

Visa Trading Down 0.1 %

NYSE:V opened at $309.51 on Thursday. The stock’s 50-day moving average is $285.26 and its two-hundred day 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. The stock has a market cap of $564.02 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.34 and a fifty-two week high of $312.44.

Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

About Visa

(Free Report)

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.

Further Reading

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