Hudson Valley Investment Advisors Inc. ADV Boosts Position in Visa Inc. (NYSE:V)

Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Visa Inc. (NYSE:V) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,586 shares of the credit-card processor’s stock after buying an additional 5,138 shares during the quarter. Visa makes up 1.2% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 26th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Visa were worth $10,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. WFA Asset Management Corp raised its holdings in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Visa by 2.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 11,176 shares of the credit-card processor’s stock valued at $3,119,000 after purchasing an additional 229 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Visa by 7.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 39,308 shares of the credit-card processor’s stock valued at $10,970,000 after purchasing an additional 2,736 shares in the last quarter. Accel Wealth Management lifted its position in shares of Visa by 12.5% in the 1st quarter. Accel Wealth Management now owns 901 shares of the credit-card processor’s stock worth $252,000 after purchasing an additional 100 shares during the period. Finally, RBA Wealth Management LLC boosted its stake in shares of Visa by 0.6% during the first quarter. RBA Wealth Management LLC now owns 21,599 shares of the credit-card processor’s stock valued at $6,028,000 after purchasing an additional 134 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group raised their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $320.07.

Visa Trading Down 0.1 %

NYSE V opened at $289.89 on Friday. The company has a fifty day moving average of $280.53 and a 200 day moving average of $273.50. The company has a market capitalization of $528.27 billion, a PE ratio of 29.79, a P/E/G ratio of 2.00 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 1.37. Visa Inc. has a 1 year low of $232.99 and a 1 year high of $296.34.

Visa (NYSE:V) last issued 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. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. Research analysts forecast that Visa Inc. will post 11.12 earnings per share 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is 21.38%.

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.