Genesee Capital Advisors LLC Invests $2.31 Million in Visa Inc. (NYSE:V)

Genesee Capital Advisors LLC bought a new position in shares of Visa Inc. (NYSE:V) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,363 shares of the credit-card processor’s stock, valued at approximately $2,308,000. Visa makes up about 1.1% of Genesee Capital Advisors LLC’s holdings, making the stock its 24th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new stake in shares of Visa in the third quarter valued at about $373,000. Voloridge Investment Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $2,451,000. Canada Pension Plan Investment Board grew its holdings in shares of Visa by 61.3% in the first quarter. Canada Pension Plan Investment Board now owns 963 shares of the credit-card processor’s stock valued at $204,000 after purchasing an additional 366 shares during the period. Aspire Private Capital LLC grew its holdings in shares of Visa by 108.3% in the first quarter. Aspire Private Capital LLC now owns 1,252 shares of the credit-card processor’s stock valued at $265,000 after purchasing an additional 651 shares during the period. Finally, MBL Wealth LLC grew its holdings in shares of Visa by 20.8% in the first quarter. MBL Wealth LLC now owns 3,318 shares of the credit-card processor’s stock valued at $702,000 after purchasing an additional 572 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.

Shares of V opened at $203.25 on Thursday. The stock has a market capitalization of $395.92 billion, a PE ratio of 36.10, a P/E/G ratio of 1.88 and a beta of 0.92. Visa Inc. has a 1 year low of $192.81 and a 1 year high of $252.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.00 and a current ratio of 1.75. The company’s 50-day simple moving average is $219.79 and its 200-day simple moving average is $228.86.

Visa (NYSE:V) last released its earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.09. Visa had a net margin of 51.07% and a return on equity of 37.62%. The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 7.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Friday, November 12th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from Visa’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 10th. Visa’s dividend payout ratio is presently 26.64%.

A number of equities research analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of Visa from $286.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, October 27th. Wells Fargo & Company upped their target price on shares of Visa from $265.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Mizuho decreased their target price on shares of Visa from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, November 1st. Truist Securities upped their target price on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Visa from $267.00 to $277.00 and gave the company an “overweight” rating in a research report on Wednesday, October 27th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $270.11.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $208.57, for a total value of $1,877,130.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $212.44, for a total transaction of $2,377,840.92. The disclosure for this sale can be found here. Insiders have sold 51,580 shares of company stock worth $11,376,866 over the last 90 days. Insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

Further Reading: Is a Roth IRA right for you?

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.