Visa Inc. (NYSE:V) Shares Acquired by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY increased its position in shares of Visa Inc. (NYSE:V) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 120,643 shares of the credit-card processor’s stock after buying an additional 567 shares during the period. Visa makes up about 1.9% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 15th biggest position. Cobblestone Capital Advisors LLC NY’s holdings in Visa were worth $33,171,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in shares of Visa in the third quarter worth about $26,000. POM Investment Strategies LLC raised its position 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 valued at $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% during the 2nd 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 last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Macquarie increased their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna lifted their price target on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Visa Stock Up 0.1 %

V stock opened at $315.08 on Friday. The firm’s 50-day moving average is $292.09 and its two-hundred day moving average is $278.57. The company has a market capitalization of $586.96 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $316.37. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results 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. The firm 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 firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

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

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.