Consolidated Planning Corp Buys 2,750 Shares of Visa Inc. (NYSE:V)

Consolidated Planning Corp grew its stake in shares of Visa Inc. (NYSE:V) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,465 shares of the credit-card processor’s stock after buying an additional 2,750 shares during the period. Consolidated Planning Corp’s holdings in Visa were worth $4,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC raised its stake in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its holdings in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB bought a new position in Visa in the 1st quarter worth approximately $511,321,000. Finally, GQG Partners LLC grew its holdings in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on V shares. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday. Four investment 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Price Performance

V opened at $305.76 on Friday. The firm has a market capitalization of $557.19 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The business’s 50-day moving average is $282.69 and its two-hundred day moving average is $274.20. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $309.00.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 21.38%.

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.