Principal Street Partners LLC Grows Position in Visa Inc. (NYSE:V)

Principal Street Partners LLC grew its position in shares of Visa Inc. (NYSE:V) by 23.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,559 shares of the credit-card processor’s stock after purchasing an additional 1,455 shares during the quarter. Principal Street Partners LLC’s holdings in Visa were worth $2,011,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Avestar Capital LLC raised its holdings in Visa by 1.4% in the 3rd quarter. Avestar Capital LLC now owns 15,448 shares of the credit-card processor’s stock worth $4,248,000 after purchasing an additional 214 shares during the period. Brooklyn Investment Group increased its position in shares of Visa by 2.5% in the third quarter. Brooklyn Investment Group now owns 10,967 shares of the credit-card processor’s stock valued at $3,015,000 after buying an additional 269 shares in the last quarter. Covington Investment Advisors Inc. raised its stake in shares of Visa by 1.2% during the 3rd quarter. Covington Investment Advisors Inc. now owns 56,622 shares of the credit-card processor’s stock worth $15,568,000 after buying an additional 653 shares during the period. D.A. Davidson & CO. lifted its position in shares of Visa by 0.6% during the 3rd quarter. D.A. Davidson & CO. now owns 351,371 shares of the credit-card processor’s stock valued at $96,609,000 after buying an additional 2,068 shares in the last quarter. Finally, FMR LLC grew its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Trading Down 0.0 %

NYSE V opened at $313.05 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $583.17 billion, a P/E ratio of 32.15, a PEG ratio of 2.08 and a beta of 0.95. The firm’s 50-day moving average is $289.96 and its two-hundred day moving average is $277.58. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $314.50.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping 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 firm 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 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share 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 is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Mizuho increased their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price target (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Susquehanna increased their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.