Manitou Investment Management Ltd. Boosts Stake in Visa Inc (NYSE:V)

Manitou Investment Management Ltd. grew its stake in shares of Visa Inc (NYSE:V) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,731 shares of the credit-card processor’s stock after buying an additional 170 shares during the quarter. Manitou Investment Management Ltd.’s holdings in Visa were worth $470,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in Visa in the 2nd quarter worth $26,000. Lowe Wealth Advisors LLC lifted its position in Visa by 114.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 86 shares during the period. Personal Wealth Partners purchased a new position in Visa during the 2nd quarter valued at about $30,000. Mcmillion Capital Management Inc. purchased a new position in Visa during the 2nd quarter valued at about $38,000. Finally, Hexavest Inc. purchased a new position in Visa during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 80.98% of the company’s stock.

In other news, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the completion of the sale, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the completion of the sale, the chief executive officer now owns 55,446 shares of the company’s stock, valued at $9,857,744.34. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock valued at $9,564,487 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

A number of brokerages recently issued reports on V. ValuEngine cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Raymond James lifted their price target on shares of Visa from $193.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price target on shares of Visa from $231.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group lifted their price target on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird set a $196.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and an average target price of $199.04.

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Visa stock traded up $0.54 during trading hours on Friday, hitting $178.97. The stock had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $349.90 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. Visa Inc has a 12-month low of $121.60 and a 12-month high of $187.05. The stock’s 50-day moving average price is $176.22 and its 200-day moving average price is $173.43.

Visa (NYSE:V) last issued its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a net margin of 52.57% and a return on equity of 42.57%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. On average, research analysts expect that Visa Inc will post 6.21 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is presently 18.38%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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