Penserra Capital Management LLC Has $20.77 Million Stock Holdings in Visa Inc. (NYSE:V)

Penserra Capital Management LLC lessened its holdings in Visa Inc. (NYSE:V) by 88.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,541 shares of the credit-card processor’s stock after selling 586,941 shares during the period. Penserra Capital Management LLC’s holdings in Visa were worth $20,768,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in V. Peterson Financial Group Inc. acquired a new position in Visa in the third quarter worth about $26,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’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 in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Trading Up 0.0 %

Shares of NYSE V opened at $309.92 on Friday. The company’s fifty day moving average is $289.52 and its 200-day moving average is $277.34. The stock has a market cap of $577.34 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95. Visa Inc. has a twelve month low of $251.61 and a twelve month 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) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. Equities research analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of 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 objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, BMO Capital Markets increased their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.