NorthStar Asset Management LLC NJ Grows Stock Holdings in Visa Inc. $V

NorthStar Asset Management LLC NJ raised its stake in shares of Visa Inc. (NYSE:V) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,152 shares of the credit-card processor’s stock after acquiring an additional 446 shares during the period. NorthStar Asset Management LLC NJ’s holdings in Visa were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Semus Wealth Partners LLC lifted its holdings in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC increased its stake in Visa by 0.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares during the period. Transcendent Capital Group LLC increased its stake in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the period. Valued Retirements Inc. raised its position in Visa by 4.3% during the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after buying an additional 30 shares during the last quarter. Finally, Interchange Capital Partners LLC lifted its stake in shares of Visa by 0.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,870 shares of company stock worth $7,467,233. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Barclays reiterated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie cut their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Up 0.8%

NYSE:V opened at $323.87 on Thursday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $341.07 and a 200-day simple moving average of $348.23. The company has a market capitalization of $590.01 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $2.71 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is currently 26.25%.

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.