Palisades Hudson Asset Management L.P. Has $804,000 Stock Holdings in Visa Inc. (NYSE:V)

Palisades Hudson Asset Management L.P. grew its stake in Visa Inc. (NYSE:V) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,922 shares of the credit-card processor’s stock after buying an additional 49 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Visa were worth $804,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its position in Visa by 1.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 746,494 shares of the credit-card processor’s stock worth $205,249,000 after buying an additional 13,524 shares during the period. National Pension Service increased its position in Visa by 13.8% during the third quarter. National Pension Service now owns 2,959,960 shares of the credit-card processor’s stock worth $813,841,000 after acquiring an additional 359,246 shares during the period. Cohen Capital Management Inc. raised its stake in Visa by 2.4% during the 3rd quarter. Cohen Capital Management Inc. now owns 37,333 shares of the credit-card processor’s stock valued at $10,265,000 after purchasing an additional 868 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Visa by 930.0% in the 3rd quarter. Intact Investment Management Inc. now owns 10,300 shares of the credit-card processor’s stock valued at $2,832,000 after purchasing an additional 9,300 shares during the period. Finally, Wheelhouse Advisory Group LLC acquired a new stake in Visa in the 3rd quarter worth $201,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on V shares. Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Macquarie upped 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. Citigroup lifted their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of NYSE:V opened at $291.85 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $296.34. The stock has a market capitalization of $531.84 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.95 and a beta of 0.95. The business has a 50-day moving average price of $281.47 and a two-hundred day moving average price of $273.80.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.18 earnings per share for the current 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 given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

About Visa

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.