Morse Asset Management Inc Takes $69,000 Position in Visa Inc. (NYSE:V)

Morse Asset Management Inc bought a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, Holdings Channel reports. The fund bought 250 shares of the credit-card processor’s stock, valued at approximately $69,000.

Other hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% during 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 in the last quarter. Reston Wealth Management LLC bought a new stake in Visa in the third quarter worth $31,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter worth $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup boosted their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Barclays boosted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V opened at $309.89 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $294.25 and a two-hundred day simple moving average of $279.25. The stock has a market cap of $577.28 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.10 and a beta of 0.96. Visa Inc. has a 52 week low of $252.14 and a 52 week high of $317.42.

Visa (NYSE:V) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Visa Company 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.