Brooklyn Investment Group Buys 269 Shares of Visa Inc. (NYSE:V)

Brooklyn Investment Group lifted its stake in Visa Inc. (NYSE:V) by 2.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,967 shares of the credit-card processor’s stock after buying an additional 269 shares during the period. Visa makes up approximately 1.0% of Brooklyn Investment Group’s portfolio, making the stock its 16th biggest holding. Brooklyn Investment Group’s holdings in Visa were worth $3,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. Covington Investment Advisors Inc. increased its holdings in Visa by 1.2% during the 3rd quarter. Covington Investment Advisors Inc. now owns 56,622 shares of the credit-card processor’s stock valued at $15,568,000 after purchasing an additional 653 shares during the period. D.A. Davidson & CO. grew its position in shares of Visa by 0.6% in the 3rd quarter. D.A. Davidson & CO. now owns 351,371 shares of the credit-card processor’s stock worth $96,609,000 after buying an additional 2,068 shares during the last quarter. FMR LLC increased its stake in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the period. Qsemble Capital Management LP raised its holdings in shares of Visa by 31.1% during the third quarter. Qsemble Capital Management LP now owns 20,379 shares of the credit-card processor’s stock valued at $5,603,000 after acquiring an additional 4,829 shares in the last quarter. Finally, Acorn Wealth Advisors LLC purchased a new stake in Visa in the third quarter worth $749,000. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Bank of America upped their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, TD Cowen lifted their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $312.80 on Tuesday. The firm’s 50-day moving average price is $289.96 and its 200-day moving average price is $277.58. Visa Inc. has a 52-week low of $251.61 and a 52-week high of $313.66. The company has a market cap of $582.71 billion, a PE ratio of 32.15, a PEG ratio of 2.08 and a beta of 0.95. 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) last posted 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. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. As a group, analysts anticipate that Visa Inc. will post 11.19 EPS 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

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.