Snider Financial Group Has $2.62 Million Holdings in Visa Inc. (NYSE:V)

Snider Financial Group boosted its holdings in Visa Inc. (NYSE:V) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,509 shares of the credit-card processor’s stock after acquiring an additional 502 shares during the quarter. Snider Financial Group’s holdings in Visa were worth $2,615,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Curi RMB Capital LLC raised its position in shares of Visa by 1.0% in the third quarter. Curi RMB Capital LLC now owns 289,284 shares of the credit-card processor’s stock valued at $79,539,000 after purchasing an additional 2,958 shares during the period. Bretton Capital Management LLC purchased a new position in Visa in the 3rd quarter valued at approximately $4,894,000. Planning Capital Management Corp raised its holdings in Visa by 34.8% during the 3rd quarter. Planning Capital Management Corp now owns 6,121 shares of the credit-card processor’s stock valued at $1,683,000 after acquiring an additional 1,580 shares during the period. Wealthstream Advisors Inc. lifted its position in shares of Visa by 25.5% during the third quarter. Wealthstream Advisors Inc. now owns 1,211 shares of the credit-card processor’s stock worth $333,000 after acquiring an additional 246 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Visa by 17.4% during the third quarter. Zions Bancorporation N.A. now owns 42,253 shares of the credit-card processor’s stock worth $11,617,000 after acquiring an additional 6,255 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. Piper Sandler boosted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Barclays boosted their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group boosted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Price Performance

Shares of NYSE:V opened at $309.51 on Thursday. 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 market cap of $564.02 billion, a PE ratio of 31.81, a PEG ratio of 2.07 and a beta of 0.95. The company’s fifty day moving average is $285.84 and its 200 day moving average is $275.41. Visa Inc. has a 52 week low of $245.34 and a 52 week high of $312.44.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate 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 return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is an increase 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%.

Visa 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.