Valley Wealth Managers Inc. Acquires 1,793 Shares of Visa Inc. (NYSE:V)

Valley Wealth Managers Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 67.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,453 shares of the credit-card processor’s stock after purchasing an additional 1,793 shares during the period. Valley Wealth Managers Inc.’s holdings in Visa were worth $1,224,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after buying an additional 9,736,958 shares during the period. SG Americas Securities LLC raised its position in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI grew its position in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB bought a new stake in Visa during the 1st quarter valued at $511,321,000. Finally, GQG Partners LLC raised its holdings in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.5 %

NYSE:V opened at $309.67 on Friday. The company has a market cap of $564.31 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1 year low of $245.60 and a 1 year high of $312.44. 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 stock’s fifty day moving average price is $287.04 and its two-hundred day moving average price is $275.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

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 shares were 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.