Pacer Advisors Inc. Grows Holdings in Visa Inc. (NYSE:V)

Pacer Advisors Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,108 shares of the credit-card processor’s stock after buying an additional 20,323 shares during the quarter. Pacer Advisors Inc.’s holdings in Visa were worth $46,496,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of V. WFA Asset Management Corp lifted its holdings in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares during the period. Guardian Capital LP raised its stake in shares of Visa by 5.8% during the 1st quarter. Guardian Capital LP now owns 2,691 shares of the credit-card processor’s stock worth $751,000 after buying an additional 147 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Visa during the 1st quarter worth approximately $3,609,000. Steel Grove Capital Advisors LLC boosted its stake in shares of Visa by 12.8% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,289 shares of the credit-card processor’s stock valued at $918,000 after acquiring an additional 372 shares during the last quarter. Finally, Tremblant Capital Group grew its holdings in shares of Visa by 122.7% during the first quarter. Tremblant Capital Group now owns 4,612 shares of the credit-card processor’s stock worth $1,287,000 after buying an additional 2,541 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. TD Cowen boosted their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Performance

V opened at $310.23 on Friday. The business has a fifty day simple moving average of $289.07 and a 200-day simple moving average of $277.08. The firm has a market cap of $565.32 billion, a PE ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $312.44.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

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.