Princeton Global Asset Management LLC Has $7.34 Million Position in Visa Inc. (NYSE:V)

Princeton Global Asset Management LLC grew its holdings in Visa Inc. (NYSE:V) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,699 shares of the credit-card processor’s stock after buying an additional 397 shares during the quarter. Visa makes up 1.4% of Princeton Global Asset Management LLC’s portfolio, making the stock its 17th largest position. Princeton Global Asset Management LLC’s holdings in Visa were worth $7,341,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC acquired a new position in Visa during the 1st quarter valued at about $404,000. Davidson Capital Management Inc. boosted its stake in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC grew its position in shares of Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares during the period. Finally, Arjuna Capital grew its position in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. BMO Capital Markets raised their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna raised their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. 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 data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $320.70.

Insider Buying and Selling

In other news, 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 transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Trading Up 0.3 %

Shares of NYSE:V opened at $290.74 on Friday. Visa Inc. has a 52-week low of $239.20 and a 52-week high of $296.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The company has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a 50-day simple moving average of $281.00 and a 200 day simple moving average of $273.65.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 21.38%.

Visa Company 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.