Northstar Group Inc. Boosts Stake in Visa Inc. (NYSE:V)

Northstar Group Inc. grew its stake in Visa Inc. (NYSE:V) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

Several other large investors have also recently made changes to their positions in the stock. Hilltop National Bank acquired a new position in shares of Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa during the first quarter valued at $404,000. Davidson Capital Management Inc. increased its position in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after acquiring an additional 44 shares during the period. Empirical Finance LLC raised its stake in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after acquiring an additional 1,914 shares during the last quarter. Finally, Arjuna Capital grew its stake in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BNP Paribas raised 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. Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. TD Cowen decreased 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, Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Stock Down 0.2 %

NYSE V traded down $0.53 on Thursday, hitting $276.40. 275,789 shares of the stock were exchanged, compared to its average volume of 7,121,662. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a 50-day moving average price of $273.71 and a 200-day moving average price of $272.71. The company has a market cap of $505.52 billion, a PE ratio of 30.95, a PEG ratio of 1.92 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Announces Dividend

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

Visa Profile

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.