Ballast Advisors LLC Has $2.13 Million Holdings in Visa Inc. (NYSE:V)

Ballast Advisors LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,748 shares of the credit-card processor’s stock after selling 36 shares during the quarter. Visa makes up about 0.7% of Ballast Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Ballast Advisors LLC’s holdings in Visa were worth $2,130,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC grew its stake in 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 buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in Visa in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the second quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Susquehanna upped their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Citigroup increased their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Trading Up 4.8 %

Shares of V stock opened at $307.36 on Thursday. Visa Inc. has a twelve month low of $240.97 and a twelve month high of $309.00. The stock’s fifty day simple moving average is $282.69 and its 200 day simple moving average is $274.20. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm 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.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

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.