Visa Inc. (NYSE:V) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in Visa Inc. (NYSE:V) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,672,400 shares of the credit-card processor’s stock after selling 10,300 shares during the quarter. Visa makes up approximately 0.8% of Swiss National Bank’s portfolio, making the stock its 14th largest holding. Swiss National Bank owned 0.26% of Visa worth $1,284,676,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of V. WFA Asset Management Corp grew its stake in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the period. Empowered Funds LLC increased its stake in Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after purchasing an additional 8,086 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Visa in the first quarter valued at $2,499,000. Hillsdale Investment Management Inc. increased its stake in Visa by 3.5% in the first quarter. Hillsdale Investment Management Inc. now owns 2,166 shares of the credit-card processor’s stock valued at $604,000 after purchasing an additional 73 shares during the last quarter. Finally, Covestor Ltd increased its stake in Visa by 12.9% in the first quarter. Covestor Ltd now owns 1,563 shares of the credit-card processor’s stock valued at $437,000 after purchasing an additional 178 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.5 %

Shares of V opened at $309.64 on Friday. The company has a market capitalization of $564.26 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The stock has a 50-day moving average price of $287.04 and a 200 day moving average price of $275.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. Sell-side analysts forecast 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. 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 a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler upped their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped 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. Oppenheimer reiterated an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Four equities research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Visa Company 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.