Concord Asset Management LLC VA Grows Stock Holdings in Visa Inc. (NYSE:V)

Concord Asset Management LLC VA raised its stake in Visa Inc. (NYSE:V) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,821 shares of the credit-card processor’s stock after buying an additional 1,036 shares during the period. Concord Asset Management LLC VA’s holdings in Visa were worth $2,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. WFA Asset Management Corp boosted its position in shares of Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after buying an additional 100 shares in the last quarter. Empowered Funds LLC raised its position in Visa by 16.0% during the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after acquiring an additional 8,086 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Visa in the first quarter valued at about $2,499,000. Hillsdale Investment Management Inc. grew its position in shares of Visa by 3.5% in the first quarter. Hillsdale Investment Management Inc. now owns 2,166 shares of the credit-card processor’s stock valued at $604,000 after purchasing an additional 73 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Visa by 12.9% during the 1st quarter. Covestor Ltd now owns 1,563 shares of the credit-card processor’s stock worth $437,000 after purchasing an additional 178 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.5 %

NYSE V opened at $309.64 on Friday. The firm has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The company’s 50 day moving average price is $287.04 and its 200 day moving average price is $275.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 EPS. On average, sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on V. 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 note on Tuesday, September 17th. BMO Capital Markets upped their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Susquehanna raised their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.