Klingman & Associates LLC Boosts Holdings in Visa Inc. (NYSE:V)

Klingman & Associates LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 144.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,314 shares of the credit-card processor’s stock after acquiring an additional 5,497 shares during the period. Klingman & Associates LLC’s holdings in Visa were worth $2,561,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa during the second quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V opened at $307.87 on Friday. 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’s 50-day moving average price is $283.95 and its 200 day moving average price is $274.67. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $311.15. The firm has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly 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. The business 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 business’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.18 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. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on V shares. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Morgan Stanley raised their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four investment 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.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.