Shum Financial Group Inc. Takes Position in Visa Inc. (NYSE:V)

Shum Financial Group Inc. acquired a new position in shares of Visa Inc. (NYSE:V) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,992 shares of the credit-card processor’s stock, valued at approximately $1,171,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after buying an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its stake in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. FMR LLC raised its position in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Swedbank AB acquired a new stake in Visa in the 1st quarter valued at about $511,321,000. Finally, Wulff Hansen & CO. boosted its stake in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after acquiring an additional 1,582,074 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.4 %

Shares of NYSE V traded down $1.28 during trading on Tuesday, hitting $311.91. The stock had a trading volume of 396,094 shares, compared to its average volume of 6,963,716. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $314.50. The company has a market capitalization of $581.05 billion, a PE ratio of 32.15, a PEG ratio of 2.08 and a beta of 0.95. The firm has a fifty day moving average of $289.96 and a two-hundred day moving average of $277.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

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 return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal 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 paid a $0.59 dividend. 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 yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on V. Macquarie increased their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America raised their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa 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.