MidAtlantic Capital Management Inc. Takes $80,000 Position in Visa Inc. (NYSE:V)

MidAtlantic Capital Management Inc. bought a new stake in Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 292 shares of the credit-card processor’s stock, valued at approximately $80,000.

A number of other hedge funds also recently modified their holdings of the business. Peterson Financial Group Inc. purchased a new stake in shares of Visa during the third quarter worth $26,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth $31,000. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.5 %

Shares of V opened at $309.64 on Monday. The stock has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The company has a 50-day moving average price of $287.04 and a two-hundred day moving average price of $276.01.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm 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%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. Equities analysts predict 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 paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup raised their target price on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Finally, Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average 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.