Muirfield Wealth Advisors LLC Acquires 558 Shares of Visa Inc. (NYSE:V)

Muirfield Wealth Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 64.5% during the third quarter, HoldingsChannel reports. The firm owned 1,423 shares of the credit-card processor’s stock after purchasing an additional 558 shares during the period. Muirfield Wealth Advisors LLC’s holdings in Visa were worth $391,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Granite Harbor Advisors Inc. lifted its stake in shares of Visa by 23.5% during the 3rd quarter. Granite Harbor Advisors Inc. now owns 2,110 shares of the credit-card processor’s stock worth $580,000 after purchasing an additional 402 shares during the last quarter. Empirical Asset Management LLC boosted its position in shares of Visa by 2.3% in the 3rd quarter. Empirical Asset Management LLC now owns 49,879 shares of the credit-card processor’s stock worth $13,714,000 after purchasing an additional 1,106 shares in the last quarter. Cherrydale Wealth Management LLC increased its position in Visa by 11.0% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 1,523 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 151 shares in the last quarter. Stablepoint Partners LLC raised its stake in Visa by 3.2% in the third quarter. Stablepoint Partners LLC now owns 7,188 shares of the credit-card processor’s stock valued at $1,976,000 after buying an additional 222 shares during the last quarter. Finally, Sapient Capital LLC raised its stake in Visa by 1.5% in the third quarter. Sapient Capital LLC now owns 115,581 shares of the credit-card processor’s stock valued at $31,779,000 after buying an additional 1,711 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V traded up $2.24 during trading on Monday, reaching $280.08. The stock had a trading volume of 1,082,620 shares, compared to its average volume of 7,098,297. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market cap of $512.25 billion, a PE ratio of 31.21, a PEG ratio of 1.92 and a beta of 0.96. The business has a fifty day moving average price of $274.16 and a 200-day moving average price of $272.62.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. On average, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Bank of America upped their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Oppenheimer began coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target for the company. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

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.