Mutual of America Capital Management LLC Purchases 4,266 Shares of Visa Inc. (NYSE:V)

Mutual of America Capital Management LLC raised its stake in shares of Visa Inc. (NYSE:V) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,863 shares of the credit-card processor’s stock after acquiring an additional 4,266 shares during the period. Visa comprises approximately 0.6% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Mutual of America Capital Management LLC’s holdings in Visa were worth $61,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. WFA Asset Management Corp lifted its stake in 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 purchasing an additional 100 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Visa by 16.0% during the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after acquiring an additional 8,086 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in Visa in the 1st quarter worth about $2,499,000. Hillsdale Investment Management Inc. raised its stake in Visa by 3.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,166 shares of the credit-card processor’s stock valued at $604,000 after acquiring an additional 73 shares during the period. Finally, Covestor Ltd boosted its position in Visa by 12.9% during the first quarter. Covestor Ltd now owns 1,563 shares of the credit-card processor’s stock worth $437,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.5 %

V stock opened at $309.64 on Friday. 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 $245.60 and a 1-year high of $312.44. The business has a 50 day simple moving average of $287.04 and a two-hundred day simple moving average of $275.95. The company has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. Research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is 24.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Susquehanna increased their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Macquarie boosted their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, Bank of America lifted their target price on shares of Visa from $279.00 to $308.00 and gave the company 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 given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.