Red Wave Investments LLC Raises Stake in Visa Inc. (NYSE:V)

Red Wave Investments LLC increased its stake in Visa Inc. (NYSE:V) by 1.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,817 shares of the credit-card processor’s stock after buying an additional 39 shares during the quarter. Red Wave Investments LLC’s holdings in Visa were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Visa during the third quarter valued at about $26,000. 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 worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter worth about $31,000. TruNorth Capital Management LLC lifted its holdings 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 worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the second quarter worth about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on V shares. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Price Performance

NYSE V opened at $309.89 on Thursday. Visa Inc. has a one year low of $252.14 and a one year high of $317.42. The stock has a 50-day moving average of $294.25 and a 200 day moving average of $279.25. The company has a market capitalization of $577.28 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.10 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

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

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

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.