Princeton Global Asset Management LLC Has $7.34 Million Holdings in Visa Inc. (NYSE:V)

Princeton Global Asset Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,699 shares of the credit-card processor’s stock after buying an additional 397 shares during the period. Visa makes up approximately 1.4% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Princeton Global Asset Management LLC’s holdings in Visa were worth $7,341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. KMG Fiduciary Partners LLC lifted its position in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the last quarter. Tlwm lifted its holdings in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares during the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after purchasing an additional 38 shares in the last quarter. Finally, First National Corp MA ADV grew its holdings in shares of Visa by 1.0% during the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after purchasing an additional 38 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on V shares. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Mizuho lifted their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday. Four 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Price Performance

Visa stock opened at $290.74 on Friday. The stock has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. Visa Inc. has a 52-week low of $239.20 and a 52-week high of $296.34. 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’s 50 day moving average price is $281.00 and its two-hundred day moving average price is $273.65.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 business 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 firm earned $2.33 earnings per share. Visa’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is currently 21.38%.

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.