Raab & Moskowitz Asset Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,305 shares of the credit-card processor’s stock after buying an additional 363 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Visa were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of Visa during the 2nd quarter worth about $239,000. Mountain Capital Investment Advisors Inc boosted its stake in shares of Visa by 251.6% during the 3rd quarter. Mountain Capital Investment Advisors Inc now owns 12,367 shares of the credit-card processor’s stock worth $2,553,000 after acquiring an additional 8,850 shares in the last quarter. Wills Financial Group Inc. boosted its stake in shares of Visa by 3.4% during the 2nd quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock worth $6,074,000 after acquiring an additional 1,023 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its stake in shares of Visa by 4.1% during the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 3,160 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 125 shares in the last quarter. Finally, Legacy Wealth Planning LLC purchased a new stake in shares of Visa during the 2nd quarter worth about $238,000. Institutional investors own 80.74% of the company’s stock.
Shares of V traded down $2.92 during mid-day trading on Monday, hitting $208.08. The company’s stock had a trading volume of 108,143 shares, compared to its average volume of 9,852,874. The firm has a 50-day moving average price of $200.88 and a 200 day moving average price of $198.04. The stock has a market capitalization of $409.84 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 2.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. Visa Inc. has a fifty-two week low of $133.93 and a fifty-two week high of $217.65.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. As a group, equities analysts anticipate that Visa Inc. will post 5.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a $0.32 dividend. This is an increase from Visa’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, November 12th. Visa’s dividend payout ratio (DPR) is 23.53%.
A number of research analysts recently weighed in on the stock. Mizuho reaffirmed a “buy” rating and issued a $250.00 price target on shares of Visa in a research note on Thursday, October 8th. KeyCorp decreased their price target on shares of Visa from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Piper Sandler decreased their price target on shares of Visa from $206.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Jefferies Financial Group raised their target price on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of Visa from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 19th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $217.14.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $200.82, for a total value of $1,405,740.00. Following the transaction, the chief executive officer now directly owns 124,090 shares of the company’s stock, valued at $24,919,753.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $182.53, for a total transaction of $1,642,770.00. Following the completion of the transaction, the chief executive officer now directly owns 120,090 shares in the company, valued at $21,920,027.70. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions.
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