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:V) 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:V) 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.

About Visa

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.