Visa Inc. (NYSE:V) Shares Purchased by Abacus Planning Group Inc.

Abacus Planning Group Inc. lifted its stake in Visa Inc. (NYSE:V) by 29.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,508 shares of the credit-card processor’s stock after acquiring an additional 339 shares during the period. Abacus Planning Group Inc.’s holdings in Visa were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. raised its holdings in Visa by 10.2% during the third quarter. Ables Iannone Moore & Associates Inc. now owns 24,803 shares of the credit-card processor’s stock worth $6,820,000 after purchasing an additional 2,295 shares in the last quarter. American National Bank & Trust increased its position in shares of Visa by 1.8% during the 3rd quarter. American National Bank & Trust now owns 45,969 shares of the credit-card processor’s stock valued at $12,639,000 after purchasing an additional 807 shares during the period. Davis Capital Management raised its stake in shares of Visa by 5.2% in the 3rd quarter. Davis Capital Management now owns 6,776 shares of the credit-card processor’s stock worth $1,863,000 after buying an additional 337 shares in the last quarter. Jacobs & Co. CA lifted its holdings in shares of Visa by 0.9% in the third quarter. Jacobs & Co. CA now owns 86,519 shares of the credit-card processor’s stock valued at $23,788,000 after buying an additional 767 shares during the period. Finally, Global Wealth Strategies & Associates boosted its stake in Visa by 79.0% during the third quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock valued at $49,000 after buying an additional 79 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.2 %

Shares of NYSE V opened at $277.01 on Thursday. The business has a 50 day simple moving average of $272.17 and a 200 day simple moving average of $273.10. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The stock has a market cap of $506.63 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Dividend Announcement

The business also recently declared 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 dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several research reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.93.

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.