Lebenthal Global Advisors LLC Increases Stock Position in Visa Inc. (NYSE:V)

Lebenthal Global Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:VFree Report) by 3.3% in the third quarter, HoldingsChannel.com reports. The fund owned 5,340 shares of the credit-card processor’s stock after purchasing an additional 172 shares during the period. Lebenthal Global Advisors LLC’s holdings in Visa were worth $1,468,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the second quarter worth approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.3 %

V opened at $290.74 on Friday. Visa Inc. has a fifty-two week low of $239.20 and a fifty-two week high of $296.34. The business has a 50-day moving average of $281.00 and a 200-day moving average of $273.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The company has a market capitalization of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. Equities research analysts forecast 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. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 21.38%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

View Our Latest Research Report on V

About Visa

(Free Report)

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.

Further Reading

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:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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