New Jersey Better Educational Savings Trust Takes Position in Visa Inc. (NYSE:V)

New Jersey Better Educational Savings Trust purchased a new stake in shares of Visa Inc. (NYSE:V) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 758 shares of the credit-card processor’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Ashton Thomas Securities LLC increased its stake in Visa by 10.4% during the 3rd quarter. Ashton Thomas Securities LLC now owns 25,276 shares of the credit-card processor’s stock valued at $6,950,000 after purchasing an additional 2,383 shares in the last quarter. YCG LLC raised its holdings in shares of Visa by 32.7% in the 3rd quarter. YCG LLC now owns 64,777 shares of the credit-card processor’s stock worth $17,811,000 after purchasing an additional 15,959 shares during the period. 1900 Wealth Management LLC raised its stake in shares of Visa by 6.4% in the third quarter. 1900 Wealth Management LLC now owns 4,673 shares of the credit-card processor’s stock valued at $1,304,000 after buying an additional 281 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Visa by 0.7% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,889 shares of the credit-card processor’s stock worth $1,619,000 after acquiring an additional 40 shares during the period. Finally, Tyler Stone Wealth Management increased its holdings in Visa by 101.4% in the 3rd quarter. Tyler Stone Wealth Management now owns 19,464 shares of the credit-card processor’s stock worth $5,352,000 after acquiring an additional 9,800 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 completion of the sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $307.87 on Monday. The firm has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. The firm has a fifty day moving average price of $283.95 and a 200 day moving average price of $274.67. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $311.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $2.33 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is 21.38%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on V shares. Barclays upped their price target 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 reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 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 given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.