First Long Island Investors LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

First Long Island Investors LLC increased its holdings in Visa Inc. (NYSE:V) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,340 shares of the credit-card processor’s stock after acquiring an additional 1,545 shares during the quarter. Visa comprises approximately 2.4% of First Long Island Investors LLC’s portfolio, making the stock its 13th biggest position. First Long Island Investors LLC’s holdings in Visa were worth $30,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. International Assets Investment Management LLC lifted its stake in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC lifted its position in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after buying an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its position in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB purchased a new position in Visa during the first quarter valued at $511,321,000. Finally, GQG Partners LLC lifted its position in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America raised 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. Finally, Oppenheimer reiterated 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. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents 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. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Up 0.4 %

V stock traded up $1.29 during trading on Friday, reaching $309.54. 1,051,576 shares of the company traded hands, compared to its average volume of 6,976,321. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The business has a 50 day simple moving average of $286.44 and a 200 day simple moving average of $275.64. The company has a market capitalization of $564.08 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. 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 quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share 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 company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $2.33 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.76%. 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 currently 24.25%.

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.