Visa Inc. (NYSE:V) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,522,445 shares of the credit-card processor’s stock after purchasing an additional 670,590 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Visa worth $3,168,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in V. WFA Asset Management Corp raised its position 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 valued at $632,000 after buying an additional 100 shares during the last quarter. Rodgers Brothers Inc. grew its position in Visa by 64.0% in the first quarter. Rodgers Brothers Inc. now owns 1,857 shares of the credit-card processor’s stock valued at $518,000 after acquiring an additional 725 shares in the last quarter. Guardian Capital LP increased its stake in Visa by 5.8% during the 1st quarter. Guardian Capital LP now owns 2,691 shares of the credit-card processor’s stock worth $751,000 after buying an additional 147 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Visa by 441.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,052,442 shares of the credit-card processor’s stock worth $293,716,000 after acquiring an additional 858,180 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC raised its position in shares of Visa by 3.1% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 64,463 shares of the credit-card processor’s stock valued at $17,990,000 after purchasing an additional 1,913 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on V. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” 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 company an “overweight” rating in a research report on Monday, November 4th. Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

NYSE V opened at $307.37 on Thursday. The company has a market capitalization of $560.12 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52-week low of $251.61 and a 52-week high of $312.44. The company has a fifty day moving average of $288.57 and a 200-day moving average of $276.84.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced 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. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is 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.