Soltis Investment Advisors LLC Buys 20,189 Shares of Visa Inc. (NYSE:V)

Soltis Investment Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 800.8% during the third quarter, Holdings Channel.com reports. The fund owned 22,710 shares of the credit-card processor’s stock after acquiring an additional 20,189 shares during the period. Soltis Investment Advisors LLC’s holdings in Visa were worth $6,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in Visa in the third quarter valued at approximately $26,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa in the 2nd quarter valued at $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.3 %

NYSE:V opened at $312.38 on Wednesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $581.93 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.07 and a beta of 0.96. The firm has a fifty day simple moving average of $296.38 and a two-hundred day simple moving average of $279.98.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating 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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is an increase 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 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Mizuho increased their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. TD Cowen raised their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America upped their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $324.74.

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.