Geode Capital Management LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Geode Capital Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 7.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,655,250 shares of the credit-card processor’s stock after buying an additional 2,772,549 shares during the quarter. Visa makes up about 0.9% of Geode Capital Management LLC’s holdings, making the stock its 15th biggest holding. Geode Capital Management LLC owned about 2.12% of Visa worth $10,601,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Burke & Herbert Bank & Trust Co. boosted its stake in shares of Visa by 314.4% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 3,672 shares of the credit-card processor’s stock valued at $964,000 after purchasing an additional 2,786 shares in the last quarter. ORBA Wealth Advisors L.L.C. boosted its position in shares of Visa by 36.2% during the second quarter. ORBA Wealth Advisors L.L.C. now owns 2,338 shares of the credit-card processor’s stock valued at $614,000 after purchasing an additional 622 shares in the last quarter. Lodestone Wealth Management LLC boosted its holdings in shares of Visa by 1.9% during the 2nd quarter. Lodestone Wealth Management LLC now owns 7,364 shares of the credit-card processor’s stock valued at $1,933,000 after buying an additional 137 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Visa by 1.1% in the second quarter. V Square Quantitative Management LLC now owns 27,244 shares of the credit-card processor’s stock worth $7,151,000 after purchasing an additional 297 shares during the period. Finally, Falcon Wealth Planning grew its stake in shares of Visa by 10.0% in the 2nd quarter. Falcon Wealth Planning now owns 1,318 shares of the credit-card processor’s stock worth $346,000 after buying an additional 120 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

V stock opened at $308.30 on Tuesday. The stock has a market cap of $574.33 billion, a PE ratio of 31.69, a P/E/G ratio of 2.09 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The company has a 50-day moving average price of $296.38 and a 200 day moving average price of $279.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup boosted their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $321.00 price objective (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.41.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

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.