Selway Asset Management Invests $1.47 Million in Visa Inc. (NYSE:V)

Selway Asset Management acquired a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,340 shares of the credit-card processor’s stock, valued at approximately $1,468,000.

Other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new stake in Visa during the fourth quarter worth approximately $25,000. Westend Capital Management LLC acquired a new stake in Visa during the first quarter worth approximately $25,000. POM Investment Strategies LLC grew 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 period. TruNorth Capital Management LLC grew its stake in 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, Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on V. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V traded up $0.37 during mid-day trading on Friday, hitting $277.84. The stock had a trading volume of 4,746,446 shares, compared to its average volume of 7,363,829. The firm has a market cap of $508.15 billion, a P/E ratio of 31.04, 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 $272.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The firm 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%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. On average, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is presently 23.24%.

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.