Fmr LLC Has $15.70 Billion Stock Position in Visa Inc. (NYSE:V)

Fmr LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,111,843 shares of the credit-card processor’s stock after buying an additional 3,265,518 shares during the quarter. Visa makes up approximately 1.0% of Fmr LLC’s investment portfolio, making the stock its 12th largest position. Fmr LLC owned approximately 3.13% of Visa worth $15,702,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during 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 last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.9 %

Shares of V stock opened at $312.80 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $582.71 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.08 and a beta of 0.95. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $313.66. The stock’s fifty day simple moving average is $289.96 and its 200 day simple moving average is $277.58.

Visa (NYSE:V) last released 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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

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.