Northstar Group Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Northstar Group Inc. increased its position in Visa Inc. (NYSE:V) by 21.0% during the third quarter, HoldingsChannel.com reports. The fund owned 10,802 shares of the credit-card processor’s stock after acquiring an additional 1,873 shares during the quarter. Northstar Group Inc.’s holdings in Visa were worth $2,970,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Westend Capital Management LLC purchased a new position in Visa during the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at about $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on V. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group reduced their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Stock Performance

V stock traded down $0.53 on Thursday, reaching $276.40. The company’s stock had a trading volume of 275,789 shares, compared to its average volume of 7,121,662. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a market capitalization of $505.52 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm has a fifty day moving average of $273.71 and a two-hundred day moving average of $272.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. As a group, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

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.