AustralianSuper Pty Ltd trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,162,430 shares of the credit-card processor's stock after selling 89,032 shares during the quarter. Visa comprises about 1.6% of AustralianSuper Pty Ltd's holdings, making the stock its 9th biggest position. AustralianSuper Pty Ltd owned 0.06% of Visa worth $319,610,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. KMG Fiduciary Partners LLC grew its holdings in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor's stock valued at $3,831,000 after buying an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC grew its holdings in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor's stock valued at $74,000 after buying an additional 37 shares during the last quarter. Tlwm grew its holdings in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor's stock valued at $1,376,000 after buying an additional 38 shares during the last quarter. Meridian Financial Partners LLC grew its holdings in shares of Visa by 0.5% during the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor's stock valued at $2,196,000 after buying an additional 38 shares during the last quarter. Finally, First National Corp MA ADV grew its holdings in shares of Visa by 1.0% during the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor's stock valued at $1,056,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa stock opened at $290.74 on Friday. The firm's 50 day simple moving average is $281.00 and its 200 day simple moving average is $273.63. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. Visa Inc. has a 1-year low of $239.20 and a 1-year high of $296.34.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa's revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 EPS. As a group, analysts expect that Visa Inc. will post 11.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is 21.38%.
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred 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 owns 538 shares of the company's stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on V shares. BNP Paribas upgraded shares of Visa from a "neutral" rating to an "outperform" rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday. Compass Point initiated 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. Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, The Goldman Sachs Group restated a "buy" rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target of $320.70.
Read Our Latest Research Report on 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.
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