RiverPark Advisors LLC Has $3.76 Million Stake in Visa Inc. (NYSE:V)

RiverPark Advisors LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 13,687 shares of the credit-card processor’s stock after selling 607 shares during the period. Visa accounts for about 3.1% of RiverPark Advisors LLC’s investment portfolio, making the stock its 7th largest holding. RiverPark Advisors LLC’s holdings in Visa were worth $3,763,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Unionview LLC grew its stake in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC boosted its holdings in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares in the last quarter. Washington Trust Bank boosted its holdings in Visa by 1.1% in the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after acquiring an additional 37 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its holdings in Visa by 20.3% in the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock worth $60,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Mizuho upped their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America upped their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned 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.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $309.64 on Friday. The stock has a market capitalization of $564.26 billion, a PE ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. The business has a 50 day simple moving average of $287.04 and a two-hundred day simple moving average of $275.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44.

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

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.