Family Capital Management Inc. Raises Stock Position in Visa Inc. (NYSE:V)

by · The Markets Daily

Family Capital Management Inc. increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,956 shares of the credit-card processor’s stock after purchasing an additional 89 shares during the period. Family Capital Management Inc.’s holdings in Visa were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Legal & General Group Plc lifted its holdings in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after buying an additional 670,590 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in shares of Visa by 0.7% during the second quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after acquiring an additional 55,437 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. Oppenheimer reissued an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley boosted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Read Our Latest Analysis on V

Visa Stock Up 0.0 %

V stock opened at $309.92 on Friday. The stock has a market cap of $577.34 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The firm’s 50-day simple moving average is $289.52 and its 200 day simple moving average is $277.34. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

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 paid 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 yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

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.

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