BEAM Asset Management LLC Has $692,000 Holdings in Visa Inc. (NYSE:V)

BEAM Asset Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,108 shares of the credit-card processor’s stock after buying an additional 176 shares during the quarter. BEAM Asset Management LLC’s holdings in Visa were worth $692,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hollencrest Capital Management grew its holdings in shares of Visa by 14.8% in the 3rd quarter. Hollencrest Capital Management now owns 9,794 shares of the credit-card processor’s stock valued at $2,181,000 after acquiring an additional 1,265 shares in the last quarter. Nadler Financial Group Inc. grew its holdings in shares of Visa by 7.3% in the 3rd quarter. Nadler Financial Group Inc. now owns 2,091 shares of the credit-card processor’s stock valued at $466,000 after acquiring an additional 142 shares in the last quarter. Asset Management Corp IL ADV bought a new position in shares of Visa in the 3rd quarter valued at about $205,000. Jacobs & Co. CA grew its holdings in shares of Visa by 2.6% in the 3rd quarter. Jacobs & Co. CA now owns 100,404 shares of the credit-card processor’s stock valued at $22,364,000 after acquiring an additional 2,567 shares in the last quarter. Finally, Buffington Mohr McNeal grew its holdings in shares of Visa by 0.7% in the 3rd quarter. Buffington Mohr McNeal now owns 38,447 shares of the credit-card processor’s stock valued at $8,564,000 after acquiring an additional 255 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Thursday, September 30th. The shares were sold at an average price of $227.58, for a total transaction of $2,048,220.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the completion of the sale, the president now owns 11,193 shares in the company, valued at approximately $2,564,316.30. The disclosure for this sale can be found here. Insiders have sold 51,580 shares of company stock worth $11,376,866 in the last quarter. Company insiders own 0.19% of the company’s stock.

V has been the subject of a number of research analyst reports. Citigroup reduced their price target on Visa from $288.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, October 28th. Truist Securities lifted their price target on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Wedbush lifted their price target on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Raymond James reduced their price objective on Visa from $286.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, October 27th. Finally, Truist lifted their price target on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $270.11.

Shares of V opened at $203.25 on Thursday. The company has a current ratio of 1.75, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $395.92 billion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. The firm’s fifty day simple moving average is $219.79 and its two-hundred day simple moving average is $228.86. Visa Inc. has a 12 month low of $192.81 and a 12 month high of $252.67.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.09. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Visa had a net margin of 51.07% and a return on equity of 37.62%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. As a group, research analysts predict that Visa Inc. will post 7.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Shareholders of record on Friday, November 12th will be given a dividend of $0.375 per share. The ex-dividend date is Wednesday, November 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. This is a boost from Visa’s previous quarterly dividend of $0.32. Visa’s dividend payout ratio is 26.64%.

About Visa

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

See Also: Why is total return important?

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.