Biltmore Family Office LLC Boosts Holdings in Visa Inc. (NYSE:V)

Biltmore Family Office LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,788 shares of the credit-card processor’s stock after purchasing an additional 227 shares during the quarter. Biltmore Family Office LLC’s holdings in Visa were worth $1,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CFS Investment Advisory Services LLC raised its holdings in shares of Visa by 2.9% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 3,334 shares of the credit-card processor’s stock valued at $917,000 after buying an additional 93 shares during the period. AlphaCore Capital LLC grew its position in Visa by 5.7% in the 3rd quarter. AlphaCore Capital LLC now owns 16,605 shares of the credit-card processor’s stock valued at $4,565,000 after acquiring an additional 890 shares in the last quarter. First County Bank CT grew its position in Visa by 2.2% in the 3rd quarter. First County Bank CT now owns 3,846 shares of the credit-card processor’s stock valued at $1,057,000 after acquiring an additional 83 shares in the last quarter. 49 Wealth Management LLC increased its stake in Visa by 34.5% during the third quarter. 49 Wealth Management LLC now owns 3,521 shares of the credit-card processor’s stock worth $968,000 after purchasing an additional 904 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in shares of Visa by 14.7% during the third quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after purchasing an additional 4,726 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Susquehanna boosted 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. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.9 %

V opened at $310.23 on Friday. The firm has a market cap of $565.32 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $312.44. The business’s 50 day moving average is $289.07 and its two-hundred day moving average is $277.08. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

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

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.