Laffer Tengler Investments Inc. Increases Stake in Visa Inc. (NYSE:V)

Laffer Tengler Investments Inc. increased its position in shares of Visa Inc. (NYSE:V) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,562 shares of the credit-card processor’s stock after buying an additional 2,253 shares during the period. Laffer Tengler Investments Inc.’s holdings in Visa were worth $2,629,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in V. POM Investment Strategies LLC grew its stake in 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 during the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC grew its stake in 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 Visa in the second quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Mizuho boosted their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley lifted their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

V stock opened at $310.98 on Tuesday. The stock has a 50-day moving average price of $283.95 and a two-hundred day moving average price of $274.67. Visa Inc. has a 12-month low of $244.11 and a 12-month high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a market cap of $566.70 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings data 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. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend 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 that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.