BEAM Asset Management LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

BEAM Asset Management LLC increased its stake in shares of Visa Inc. (NYSE:V) by 6.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,108 shares of the credit-card processor’s stock after buying an additional 176 shares during the period. BEAM Asset Management LLC’s holdings in Visa were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its holdings in shares of Visa by 14.8% during the third quarter. Hollencrest Capital Management now owns 9,794 shares of the credit-card processor’s stock valued at $2,181,000 after purchasing an additional 1,265 shares during the last quarter. Nadler Financial Group Inc. raised its holdings in shares of Visa by 7.3% during the third quarter. Nadler Financial Group Inc. now owns 2,091 shares of the credit-card processor’s stock valued at $466,000 after purchasing an additional 142 shares during the last quarter. Asset Management Corp IL ADV purchased a new position in shares of Visa during the third quarter valued at approximately $205,000. Jacobs & Co. CA raised its holdings in shares of Visa by 2.6% during the third quarter. Jacobs & Co. CA now owns 100,404 shares of the credit-card processor’s stock valued at $22,364,000 after purchasing an additional 2,567 shares during the last quarter. Finally, Buffington Mohr McNeal increased its holdings in Visa by 0.7% during the third quarter. Buffington Mohr McNeal now owns 38,447 shares of the credit-card processor’s stock valued at $8,564,000 after buying an additional 255 shares during the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Friday, October 29th. The shares were sold at an average price of $208.57, for a total transaction of $1,877,130.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the transaction, the president now owns 11,193 shares in the company, valued at $2,564,316.30. The disclosure for this sale can be found here. In the last three months, insiders sold 51,580 shares of company stock worth $11,376,866. Insiders own 0.19% of the company’s stock.

A number of analysts have commented on V shares. Compass Point upped their target price on shares of Visa from $265.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. UBS Group began coverage on shares of Visa in a report on Thursday, November 18th. They set a “buy” rating and a $275.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Visa from $297.00 to $284.00 and set an “outperform” rating for the company in a research report on Wednesday, October 27th. Truist Securities upped their price target on shares of Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Visa from $267.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $270.11.

Shares of V opened at $203.25 on Thursday. Visa Inc. has a twelve month low of $192.81 and a twelve month high of $252.67. The company has a market cap of $395.92 billion, a P/E ratio of 36.10, a P/E/G ratio of 1.88 and a beta of 0.92. The company has a current ratio of 1.75, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $219.79 and its 200-day simple moving average is $228.86.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.09. Visa had a net margin of 51.07% and a return on equity of 37.62%. The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. Analysts predict that Visa Inc. will post 7.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Friday, November 12th will be paid a $0.375 dividend. The ex-dividend date is Wednesday, November 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.32. Visa’s dividend payout ratio is currently 26.64%.

About Visa

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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