Saxon Interests Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Saxon Interests Inc. grew its stake in Visa Inc. (NYSE:V) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,031 shares of the credit-card processor’s stock after buying an additional 286 shares during the period. Saxon Interests Inc.’s holdings in Visa were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Custom Index Systems LLC acquired a new position in shares of Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. acquired a new position in Visa in the third quarter valued at $616,000. FORA Capital LLC purchased a new stake in shares of Visa in the third quarter valued at about $7,987,000. Chicago Capital LLC boosted its stake in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC grew its holdings in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.9 %

Visa stock opened at $319.97 on Friday. The stock has a market cap of $596.06 billion, a PE ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $313.41 and a 200 day moving average price of $288.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.

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, beating the consensus estimate of $2.58 by $0.13. The business 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 company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Equities research analysts predict that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Jefferies Financial Group lifted their price objective 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. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna raised their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price target on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Four equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $331.92.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.