Visa Inc. (NYSE:V) Holdings Lowered by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its stake in Visa Inc. (NYSE:V) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,515 shares of the credit-card processor’s stock after selling 181 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Visa were worth $28,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. KMG Fiduciary Partners LLC grew its stake in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after buying an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake in shares of Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after purchasing an additional 37 shares during the period. Washington Trust Bank lifted its holdings in shares of Visa by 1.1% during the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after buying an additional 37 shares during the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of Visa by 20.3% during the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock worth $60,000 after purchasing an additional 37 shares during the period. Finally, Tlwm lifted its stake in shares of Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho boosted their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted 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, Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four equities research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

Shares of Visa stock opened at $309.82 on Wednesday. The business has a 50-day moving average price of $284.64 and a two-hundred day moving average price of $274.92. Visa Inc. has a 1-year low of $244.11 and a 1-year high of $312.44. The company has a market cap of $564.59 billion, a P/E ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data 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 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 for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.33 EPS. As a group, analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 21.38%.

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.