Brass Tax Wealth Management Inc. Grows Stock Position in Visa Inc. (NYSE:V)

Brass Tax Wealth Management Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,298 shares of the credit-card processor’s stock after buying an additional 257 shares during the period. Brass Tax Wealth Management Inc.’s holdings in Visa were worth $632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of V. Arjuna Capital increased its stake in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the period. Custom Index Systems LLC bought a new stake in Visa during the third quarter valued at about $731,000. FORA Capital LLC bought a new stake in Visa during the third quarter valued at about $7,987,000. Chicago Capital LLC boosted its position in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC boosted its position in Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V traded up $2.17 during trading on Friday, reaching $316.40. The stock had a trading volume of 999,178 shares, compared to its average volume of 6,868,947. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business has a fifty day moving average price of $298.56 and a 200-day moving average price of $280.71. The stock has a market cap of $589.42 billion, a PE ratio of 32.40, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $317.42.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction 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 sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on V. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. 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. Piper Sandler raised their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Mizuho raised their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.74.

Visa 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.