44,300 Shares in Visa Inc. (NYSE:V) Acquired by Janney Capital Management LLC

Janney Capital Management LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 44,300 shares of the credit-card processor’s stock, valued at approximately $12,180,000.

Other hedge funds have also added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in Visa in the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new position in shares of Visa in the first quarter worth $404,000. Davidson Capital Management Inc. lifted its holdings in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital increased its holdings in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on V. Susquehanna raised their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Stock Up 0.3 %

NYSE V opened at $290.74 on Friday. The stock has a 50 day moving average price of $281.00 and a 200-day moving average price of $273.65. Visa Inc. has a one year low of $239.20 and a one year high of $296.34. The company has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.17 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.81%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

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.