Baron Wealth Management LLC Purchases 339 Shares of Visa Inc. (NYSE:V)

Baron Wealth Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,615 shares of the credit-card processor’s stock after purchasing an additional 339 shares during the period. Visa comprises 0.5% of Baron Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Baron Wealth Management LLC’s holdings in Visa were worth $994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter valued at approximately $26,000. POM Investment Strategies LLC boosted its holdings 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 acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted its holdings 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 acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa in the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Susquehanna boosted their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley boosted their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four 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 company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Up 0.8 %

V stock opened at $312.16 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $568.85 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The stock has a fifty day moving average of $287.57 and a 200-day moving average of $276.32.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business 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 prior year, the firm posted $2.33 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Insider Buying and Selling 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 stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.