Isthmus Partners LLC Invests $568,000 in Visa Inc. $V

Isthmus Partners LLC bought a new stake in Visa Inc. (NYSE:V) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,665 shares of the credit-card processor’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Visa in the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. increased its holdings in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC raised its stake in Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. Vanguard Group Inc. lifted its holdings in Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a research note on Monday, February 2nd. Macquarie Infrastructure restated an “outperform” rating and set a $410.00 price objective on shares of Visa in a research report on Friday, January 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $411.00 target price (up previously from $398.00) on shares of Visa in a research report on Friday, January 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $391.43.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of Visa stock opened at $320.90 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $582.49 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a 50-day simple moving average of $336.40 and a two-hundred day simple moving average of $338.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the firm earned $2.75 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.