WFA of San Diego LLC Makes New Investment in Visa Inc. (NYSE:V)

WFA of San Diego LLC purchased a new position in Visa Inc. (NYSE:V) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 325 shares of the credit-card processor’s stock, valued at approximately $77,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Visa by 107,990.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock worth $474,634,314,000 after purchasing an additional 1,996,779,546 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after acquiring an additional 24,483,134 shares during the last quarter. Norges Bank bought a new position in shares of Visa during the 4th quarter valued at approximately $3,067,232,000. Morgan Stanley boosted its position in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Visa by 130.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock valued at $680,069,000 after acquiring an additional 3,986,135 shares during the last quarter. 81.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,300 shares of company stock worth $19,668,731. Company insiders own 0.22% of the company’s stock.

Visa Stock Performance

V stock opened at $249.97 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.45 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $238.48 and its two-hundred day simple moving average is $236.43. Visa Inc. has a twelve month low of $202.13 and a twelve month high of $250.93. The firm has a market cap of $465.40 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.66 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.10. Visa had a return on equity of 50.13% and a net margin of 52.90%. The business had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.56 billion. During the same quarter last year, the firm posted $1.93 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.9 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.83%. This is a positive change from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio (DPR) is currently 25.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Seaport Res Ptn reiterated a “neutral” rating on shares of Visa in a research report on Thursday, October 12th. Barclays lowered their target price on Visa from $285.00 to $278.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Oppenheimer increased their target price on Visa from $248.00 to $252.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Susquehanna raised their price target on Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company raised their price target on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.67.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.