Visa Inc. (NYSE:V) Shares Purchased by MAI Capital Management

MAI Capital Management raised its holdings in Visa Inc. (NYSE:V) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,162 shares of the credit-card processor’s stock after acquiring an additional 2,684 shares during the quarter. Visa accounts for about 0.9% of MAI Capital Management’s portfolio, making the stock its 24th biggest holding. MAI Capital Management’s holdings in Visa were worth $96,002,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Aljian Capital Management LLC increased its holdings in shares of Visa by 26.0% in the 3rd quarter. Aljian Capital Management LLC now owns 19,686 shares of the credit-card processor’s stock valued at $5,413,000 after purchasing an additional 4,056 shares during the period. Glass Wealth Management Co LLC grew its position in Visa by 16.8% in the third quarter. Glass Wealth Management Co LLC now owns 6,157 shares of the credit-card processor’s stock worth $1,693,000 after acquiring an additional 887 shares in the last quarter. Westfuller Advisors LLC acquired a new position in shares of Visa during the 3rd quarter worth $437,000. S&CO Inc. increased its position in Visa by 26.6% during the third quarter. S&CO Inc. now owns 15,660 shares of the credit-card processor’s stock worth $4,305,000 after buying an additional 3,289 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Visa by 370.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,018,323 shares of the credit-card processor’s stock valued at $279,988,000 after acquiring an additional 801,725 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $309.64 on Monday. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44. The company has a 50 day moving average of $287.04 and a 200-day moving average of $276.01. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last issued 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. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’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 company posted $2.33 EPS. On average, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Susquehanna boosted their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Four investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.