FLC Capital Advisors Increases Position in Visa Inc. (NYSE:V)

FLC Capital Advisors increased its stake in shares of Visa Inc. (NYSE:V) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,924 shares of the credit-card processor’s stock after buying an additional 100 shares during the period. FLC Capital Advisors’ holdings in Visa were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter worth about $25,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% in 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. TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% in the second 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. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Stock Up 2.9 %

Shares of NYSE V opened at $287.51 on Thursday. The stock has a fifty day moving average price of $275.69 and a 200 day moving average price of $272.74. The company has a market cap of $525.83 billion, a P/E ratio of 32.12, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

V has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Bank of America upped their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Oppenheimer began coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.81.

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.