CWA Asset Management Group LLC Makes New $17.14 Million Investment in Visa Inc. (NYSE:V)

CWA Asset Management Group LLC bought a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,322 shares of the credit-card processor’s stock, valued at approximately $17,135,000. Visa comprises approximately 0.9% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 27th biggest holding.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors boosted its position in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors boosted its position in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Morgan Stanley upped their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Finally, Jefferies Financial Group increased their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Up 0.7 %

Shares of V opened at $307.92 on Friday. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $311.15. The company has a 50-day moving average price of $283.95 and a two-hundred day moving average price of $274.67. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $561.13 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by 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.