Global Wealth Management Investment Advisory Inc. Buys Shares of 744 Visa Inc. (NYSE:V)

Global Wealth Management Investment Advisory Inc. purchased a new position in Visa Inc. (NYSE:V) during the third quarter, HoldingsChannel reports. The fund purchased 744 shares of the credit-card processor’s stock, valued at approximately $205,000.

Other hedge funds have also recently bought and sold shares of the company. KMG Fiduciary Partners LLC increased its stake in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares in the last quarter. Tlwm boosted its stake in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after acquiring an additional 38 shares during the last quarter. Meridian Financial Partners LLC increased its position in Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares in the last quarter. Finally, First National Corp MA ADV raised its stake in Visa by 1.0% in the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after purchasing an additional 38 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on V. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Macquarie upped their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Visa stock opened at $293.36 on Wednesday. The firm has a market capitalization of $534.59 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. Visa Inc. has a one year low of $240.97 and a one year high of $296.34. The stock’s 50 day moving average price is $281.92 and its 200 day moving average price is $273.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last posted its earnings results 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. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed 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 is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

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.