IMS Capital Management Boosts Stake in Visa Inc. (NYSE:V)

IMS Capital Management lifted its holdings in Visa Inc. (NYSE:V) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,962 shares of the credit-card processor’s stock after buying an additional 93 shares during the period. Visa makes up approximately 1.4% of IMS Capital Management’s portfolio, making the stock its 16th biggest holding. IMS Capital Management’s holdings in Visa were worth $3,014,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Unionview LLC raised its holdings in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. FWG Holdings LLC raised its stake in shares of Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the period. St. Louis Trust Co lifted its position in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares during the last quarter. Menard Financial Group LLC grew its stake in shares of Visa by 0.6% during the 3rd quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after acquiring an additional 35 shares during the period. Finally, KMG Fiduciary Partners LLC grew its stake in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.7 %

Shares of Visa stock opened at $318.01 on Wednesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $318.84. The company’s fifty day simple moving average is $301.00 and its 200-day simple moving average is $281.78. The stock has a market capitalization of $592.41 billion, a PE ratio of 32.68, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last released its 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 company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. Bank of America boosted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their price objective 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. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.74.

Insider Activity at Visa

In related 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.