Charles Schwab Investment Management Inc. Buys 670,590 Shares of Visa Inc. (NYSE:V)

Charles Schwab Investment Management Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 6.2% in the third quarter, Holdings Channel reports. The institutional investor owned 11,522,445 shares of the credit-card processor’s stock after acquiring an additional 670,590 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Visa were worth $3,168,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Unionview LLC grew its position in shares of Visa by 1.5% during 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 in the last quarter. FWG Holdings LLC grew its stake in Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after acquiring an additional 34 shares in the last quarter. St. Louis Trust Co increased its holdings in Visa by 0.9% in the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of 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 buying an additional 37 shares in the last quarter. Finally, Iron Horse Wealth Management LLC boosted 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 valued at $74,000 after acquiring an additional 37 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of NYSE:V opened at $307.37 on Thursday. The company has a market cap of $560.12 billion, a P/E ratio of 31.59, a PEG ratio of 2.09 and a beta of 0.95. The business’s 50-day simple moving average is $288.57 and its 200 day simple moving average is $276.84. Visa Inc. has a one year low of $251.61 and a one year high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Mizuho lifted their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America lifted their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock 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.