Visa Inc. (NYSE:V) Position Lifted by Capital Counsel LLC NY

Capital Counsel LLC NY lifted its position in Visa Inc. (NYSE:V) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 813,630 shares of the credit-card processor’s stock after purchasing an additional 5,607 shares during the quarter. Visa comprises about 9.6% of Capital Counsel LLC NY’s holdings, making the stock its 5th biggest holding. Capital Counsel LLC NY’s holdings in Visa were worth $223,707,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Arjuna Capital boosted its position in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. Custom Index Systems LLC purchased a new position in shares of Visa in the third quarter valued at approximately $731,000. Mechanics Bank Trust Department boosted its position in Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares during the period. Chicago Capital LLC grew its stake in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in shares of Visa by 9.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock worth $15,299,000 after acquiring an additional 4,988 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Trading Down 0.4 %

Shares of V stock opened at $311.82 on Wednesday. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $314.50. The company has a market capitalization of $580.88 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.10 and a beta of 0.95. The firm has a 50-day moving average price of $290.37 and a 200 day moving average price of $277.80. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results 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 firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.33 earnings per share. Research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced 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 positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company 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.