First Long Island Investors LLC Buys 1,545 Shares of Visa Inc. (NYSE:V)

First Long Island Investors LLC grew its stake in Visa Inc. (NYSE:V) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 109,340 shares of the credit-card processor’s stock after purchasing an additional 1,545 shares during the quarter. Visa comprises approximately 2.4% of First Long Island Investors LLC’s holdings, making the stock its 13th largest holding. First Long Island Investors LLC’s holdings in Visa were worth $30,063,000 as of its most recent SEC filing.

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Up 0.4 %

V stock traded up $1.29 during midday trading on Friday, reaching $309.54. 1,051,576 shares of the company’s stock traded hands, compared to its average volume of 6,976,321. The company has a market cap of $564.08 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 2.07 and a beta of 0.95. The firm’s fifty day moving average price is $286.44 and its 200-day moving average price is $275.64. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $2.33 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Analyst Ratings Changes

A number of analysts have recently commented on V shares. BMO Capital Markets boosted their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research 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 target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Finally, Susquehanna lifted their price objective on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $321.74.

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.