Sculati Wealth Management LLC Raises Stock Position in Visa Inc. (NYSE:V)

Sculati Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,375 shares of the credit-card processor’s stock after buying an additional 81 shares during the period. Sculati Wealth Management LLC’s holdings in Visa were worth $2,337,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC lifted its holdings in shares of Visa by 6.1% in the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Ameriprise Financial Inc. increased its holdings in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc raised its position in 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 purchasing an additional 312,286 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on V. Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Mizuho raised 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. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $324.74.

Visa Trading Up 0.5 %

Shares of V stock opened at $313.83 on Thursday. The business’s fifty day moving average price is $297.82 and its 200 day moving average price is $280.48. The firm has a market capitalization of $584.62 billion, a PE ratio of 32.25, a P/E/G ratio of 2.07 and a beta of 0.96. 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 Inc. has a 1-year low of $252.70 and a 1-year high of $317.42.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.