Worth Asset Management LLC Purchases 412 Shares of Visa Inc. (NYSE:V)

Worth Asset Management LLC boosted its position in Visa Inc. (NYSE:V) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,924 shares of the credit-card processor’s stock after acquiring an additional 412 shares during the period. Worth Asset Management LLC’s holdings in Visa were worth $529,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC raised 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 worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $277.95 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average price is $273.94 and its two-hundred day moving average price is $272.75. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The firm has a market cap of $506.51 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last released 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 analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. On average, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 22.25%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup dropped their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Oppenheimer began coverage on Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Finally, Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six investment 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 company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

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.