Visa Inc. (NYSE:V) Stock Holdings Boosted by Montecito Bank & Trust

Montecito Bank & Trust boosted its position in Visa Inc. (NYSE:V) by 2.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,793 shares of the credit-card processor’s stock after buying an additional 303 shares during the quarter. Montecito Bank & Trust’s holdings in Visa were worth $3,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. WFA Asset Management Corp grew its position in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after acquiring an additional 16,078 shares in the last quarter. Manchester Capital Management LLC increased its stake in shares of Visa by 17.8% during the first quarter. Manchester Capital Management LLC now owns 6,609 shares of the credit-card processor’s stock valued at $1,844,000 after acquiring an additional 998 shares during the period. Advisory Services Network LLC raised its holdings in Visa by 2.1% during the first quarter. Advisory Services Network LLC now owns 74,441 shares of the credit-card processor’s stock worth $20,775,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in Visa in the first quarter worth approximately $647,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Down 0.5 %

V opened at $305.76 on Friday. The company has a market capitalization of $557.19 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The business has a 50-day moving average of $282.69 and a 200-day moving average of $274.20. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $309.00. 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 (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. 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 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 21.38%.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird boosted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Company 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.