Hollencrest Capital Management Grows Position in Visa Inc. (NYSE:V)

Hollencrest Capital Management increased its position in shares of Visa Inc. (NYSE:V) by 14.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,794 shares of the credit-card processor’s stock after buying an additional 1,265 shares during the period. Hollencrest Capital Management’s holdings in Visa were worth $2,181,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in V. Oregon Public Employees Retirement Fund boosted its holdings in Visa by 3.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 367,892 shares of the credit-card processor’s stock valued at $86,021,000 after purchasing an additional 13,120 shares in the last quarter. Greenleaf Trust boosted its holdings in Visa by 2.1% in the second quarter. Greenleaf Trust now owns 210,478 shares of the credit-card processor’s stock valued at $49,214,000 after purchasing an additional 4,292 shares in the last quarter. Heritage Wealth Advisors boosted its holdings in Visa by 66.1% in the second quarter. Heritage Wealth Advisors now owns 50,010 shares of the credit-card processor’s stock valued at $10,939,000 after purchasing an additional 19,910 shares in the last quarter. WT Wealth Management boosted its holdings in Visa by 8.7% in the second quarter. WT Wealth Management now owns 10,950 shares of the credit-card processor’s stock valued at $2,560,000 after purchasing an additional 879 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Visa by 2.5% in the second quarter. King Luther Capital Management Corp now owns 957,489 shares of the credit-card processor’s stock valued at $223,880,000 after purchasing an additional 23,429 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

NYSE:V opened at $203.25 on Thursday. Visa Inc. has a 1 year low of $192.81 and a 1 year high of $252.67. The stock has a market capitalization of $395.92 billion, a price-to-earnings ratio of 36.10, a PEG ratio of 1.88 and a beta of 0.92. The stock has a fifty day moving average price of $219.79 and a two-hundred day moving average price of $228.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.00 and a current ratio of 1.75.

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

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

In related news, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction on 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 sale, the president now owns 11,193 shares of the company’s stock, valued at $2,564,316.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Friday, October 29th. The shares were sold at an average price of $208.57, for a total value of $1,877,130.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,580 shares of company stock valued at $11,376,866. Company insiders own 0.19% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Susquehanna increased their price objective on Visa from $265.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Citigroup decreased their price objective 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 increased their price objective on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Daiwa Capital Markets downgraded Visa from an “outperform” rating to a “neutral” rating and set a $250.00 price objective for the company. in a report on Thursday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on Visa from $267.00 to $277.00 and gave the company an “overweight” rating in a report on Wednesday, October 27th. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $270.11.

Visa Profile

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.

Read More: Trading Halts Explained

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).

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.