Visa Inc. (NYSE:V) Shares Bought by 49 Wealth Management LLC

49 Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 34.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,521 shares of the credit-card processor’s stock after acquiring an additional 904 shares during the quarter. 49 Wealth Management LLC’s holdings in Visa were worth $968,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Eagle Asset Management Inc. raised its holdings in shares of Visa by 14.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after acquiring an additional 4,726 shares during the period. Activest Wealth Management increased its position in Visa by 32.3% during the third quarter. Activest Wealth Management now owns 545 shares of the credit-card processor’s stock worth $150,000 after purchasing an additional 133 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Visa by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after purchasing an additional 670,590 shares during the period. Banco Santander S.A. boosted its holdings in Visa by 2.6% in the 3rd quarter. Banco Santander S.A. now owns 210,360 shares of the credit-card processor’s stock valued at $57,838,000 after purchasing an additional 5,394 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Visa by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 169,108 shares of the credit-card processor’s stock valued at $46,496,000 after buying an additional 20,323 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Barclays upped their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Royal Bank of Canada increased their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

Visa stock opened at $310.23 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a one year low of $251.61 and a one year high of $312.44. The company has a market cap of $565.32 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The business has a fifty day moving average of $289.07 and a two-hundred day moving average of $277.08.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Company 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.