Activest Wealth Management Buys 133 Shares of Visa Inc. (NYSE:V)

Activest Wealth Management lifted its stake in shares of Visa Inc. (NYSE:V) by 32.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545 shares of the credit-card processor’s stock after purchasing an additional 133 shares during the period. Activest Wealth Management’s holdings in Visa were worth $150,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares during the last quarter. Legal & General Group Plc raised its holdings in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after buying an additional 670,590 shares during the period. International Assets Investment Management LLC increased its position in shares of Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares in the last quarter. Finally, Ninety One UK Ltd raised its stake in Visa by 0.7% during the 2nd quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after buying an additional 55,437 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

V stock traded up $1.48 during trading on Thursday, reaching $308.87. The stock had a trading volume of 540,135 shares, compared to its average volume of 6,942,740. The stock’s 50 day moving average is $288.57 and its two-hundred day moving average is $276.84. The firm has a market cap of $562.86 billion, a PE ratio of 31.59, a PEG ratio of 2.09 and a beta of 0.95. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed 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 is Tuesday, November 12th. This represents a $2.36 annualized dividend 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 (DPR) is 24.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, TD Cowen increased their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.