Heritage Investment Group Inc. Increases Stake in Visa Inc. (NYSE:V)

Heritage Investment Group Inc. increased its holdings in Visa Inc. (NYSE:V) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,218 shares of the credit-card processor’s stock after purchasing an additional 59 shares during the quarter. Heritage Investment Group Inc.’s holdings in Visa were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in V. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the 2nd quarter valued at approximately $35,000. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on V. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reiterated 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-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

Shares of NYSE:V traded up $1.39 during midday trading on Friday, reaching $309.64. The company’s stock had a trading volume of 5,106,284 shares, compared to its average volume of 5,762,525. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $287.04 and a 200 day moving average of $275.90. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. The firm has a market capitalization of $564.26 billion, a PE ratio of 31.83, a P/E/G ratio of 2.06 and a beta of 0.95.

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, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate 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 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

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.