Jmac Enterprises LLC Boosts Holdings in Visa Inc. (NYSE:V)

Jmac Enterprises LLC increased its position in Visa Inc. (NYSE:V) by 1.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,542 shares of the credit-card processor’s stock after purchasing an additional 42 shares during the period. Jmac Enterprises LLC’s holdings in Visa were worth $699,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in V. WFA Asset Management Corp increased its stake in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after buying an additional 100 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after acquiring an additional 16,078 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Visa by 17.8% in the first quarter. Manchester Capital Management LLC now owns 6,609 shares of the credit-card processor’s stock valued at $1,844,000 after acquiring an additional 998 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Visa by 2.1% in the first quarter. Advisory Services Network LLC now owns 74,441 shares of the credit-card processor’s stock valued at $20,775,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Gallacher Capital Management LLC bought a new stake in Visa in the first quarter valued at $647,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE V opened at $305.76 on Friday. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $309.00. The firm has a market capitalization of $557.19 billion, a P/E ratio of 31.42, a PEG ratio of 2.06 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $282.69 and a 200-day moving average price of $274.20.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Equities research analysts anticipate that Visa Inc. will post 11.18 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. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is currently 21.38%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Finally, Citigroup boosted their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

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.