Visa Inc. (NYSE:V) Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,878 shares of the credit-card processor’s stock after purchasing an additional 697 shares during the period. Visa makes up 1.1% of Pittenger & Anderson Inc.’s portfolio, making the stock its 20th biggest position. Pittenger & Anderson Inc.’s holdings in Visa were worth $28,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC lifted its stake in Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after purchasing an additional 37 shares during the period. Tlwm lifted its holdings in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares during the last quarter. Meridian Financial Partners LLC boosted its position in Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after purchasing an additional 38 shares during the period. Finally, First National Corp MA ADV grew its stake in Visa by 1.0% during the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock worth $1,056,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

V opened at $293.36 on Wednesday. The stock has a fifty day moving average price of $281.92 and a 200 day moving average price of $273.97. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $296.34. The stock has a market cap of $534.59 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.96 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 21.38%.

Analyst Upgrades and Downgrades

Several brokerages have commented on V. Citigroup raised their price target 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. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Four investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $321.74.

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.