Brooklyn Investment Group Acquires 269 Shares of Visa Inc. (NYSE:V)

Brooklyn Investment Group increased its holdings in shares of Visa Inc. (NYSE:V) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,967 shares of the credit-card processor’s stock after purchasing an additional 269 shares during the period. Visa makes up about 1.0% of Brooklyn Investment Group’s holdings, making the stock its 16th biggest position. Brooklyn Investment Group’s holdings in Visa were worth $3,015,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter valued at about $31,000. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on V. Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Price Performance

V stock opened at $312.80 on Tuesday. The firm has a 50 day moving average of $289.96 and a 200-day moving average of $277.58. The firm has a market capitalization of $582.71 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $313.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.33 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.19 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

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.