Physicians Financial Services Inc. Buys 410 Shares of Visa Inc. (NYSE:V)

Physicians Financial Services Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,113 shares of the credit-card processor’s stock after purchasing an additional 410 shares during the quarter. Visa accounts for about 1.5% of Physicians Financial Services Inc.’s holdings, making the stock its 16th biggest holding. Physicians Financial Services Inc.’s holdings in Visa were worth $4,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Hilltop National Bank bought a new stake in Visa in the 1st quarter worth approximately $1,212,000. Arjuna Capital raised its stake in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares in the last quarter. Custom Index Systems LLC bought a new stake in shares of Visa in the 3rd quarter worth approximately $731,000. Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Visa by 61.1% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 19,749 shares of the credit-card processor’s stock valued at $5,512,000 after purchasing an additional 7,491 shares in the last quarter. Finally, Mechanics Bank Trust Department grew its holdings in shares of Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after purchasing an additional 2,410 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Susquehanna raised their price target on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America raised their target price 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, Piper Sandler upped 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. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V opened at $307.92 on Friday. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $311.15. The firm’s 50-day simple moving average is $283.95 and its two-hundred day simple moving average is $274.67. The stock has a market cap of $561.13 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 EPS. Analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 21.38%.

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.