Financial Enhancement Group LLC Has $8.26 Million Position in Visa Inc. (NYSE:V)

Financial Enhancement Group LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 23.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 30,028 shares of the credit-card processor’s stock after selling 9,355 shares during the quarter. Visa comprises about 1.5% of Financial Enhancement Group LLC’s portfolio, making the stock its 21st biggest holding. Financial Enhancement Group LLC’s holdings in Visa were worth $8,256,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of V. Blake Schutter Theil Wealth Advisors LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $1,431,000. Prudent Investors Network Inc. acquired a new stake in Visa in the third quarter valued at approximately $355,000. M&G PLC raised its position in shares of Visa by 4.3% during the third quarter. M&G PLC now owns 870,805 shares of the credit-card processor’s stock worth $239,471,000 after acquiring an additional 35,976 shares during the last quarter. Donald L. Hagan LLC lifted its stake in shares of Visa by 32.1% in the third quarter. Donald L. Hagan LLC now owns 1,366 shares of the credit-card processor’s stock worth $376,000 after acquiring an additional 332 shares during the period. Finally, Maia Wealth LLC boosted its holdings in Visa by 11.5% in the third quarter. Maia Wealth LLC now owns 9,109 shares of the credit-card processor’s stock valued at $2,580,000 after acquiring an additional 943 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $307.36 on Thursday. The company has a market capitalization of $560.11 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.96 and a beta of 0.95. The business has a fifty day simple moving average of $282.69 and a two-hundred day simple moving average of $274.20. 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 $240.97 and a 1 year high of $309.00.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. On average, analysts expect that Visa Inc. will post 11.18 earnings per share for the current 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 given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. BMO Capital Markets lifted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the company a “buy” 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.