Allen Capital Group LLC Purchases 891 Shares of Visa Inc. (NYSE:V)

Allen Capital Group LLC grew its position in shares of Visa Inc. (NYSE:V) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,137 shares of the credit-card processor’s stock after purchasing an additional 891 shares during the period. Allen Capital Group LLC’s holdings in Visa were worth $3,337,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter valued at about $26,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in Visa during the 2nd quarter valued at approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen upped their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

Shares of V opened at $310.23 on Friday. The business’s fifty day simple moving average is $289.07 and its two-hundred day simple moving average is $277.08. 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 Inc. has a 12 month low of $251.61 and a 12 month high of $312.44. The company has a market cap of $565.32 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period last year, the business posted $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared 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 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

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.