Verde Capital Management Buys 853 Shares of Visa Inc. (NYSE:V)

Verde Capital Management grew its stake in shares of Visa Inc. (NYSE:V) by 43.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,800 shares of the credit-card processor’s stock after purchasing an additional 853 shares during the period. Verde Capital Management’s holdings in Visa were worth $770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Running Oak Capital LLC boosted its holdings in shares of Visa by 10.0% during the 1st quarter. Running Oak Capital LLC now owns 39,759 shares of the credit-card processor’s stock valued at $11,096,000 after buying an additional 3,607 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in Visa by 62.1% during the first quarter. Sanders Morris Harris LLC now owns 9,218 shares of the credit-card processor’s stock worth $2,573,000 after acquiring an additional 3,533 shares in the last quarter. GSG Advisors LLC grew its holdings in Visa by 7.3% in the first quarter. GSG Advisors LLC now owns 940 shares of the credit-card processor’s stock worth $260,000 after purchasing an additional 64 shares during the period. FOCUS Wealth Advisors LLC increased its stake in shares of Visa by 6.4% during the first quarter. FOCUS Wealth Advisors LLC now owns 7,443 shares of the credit-card processor’s stock valued at $2,077,000 after purchasing an additional 448 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC increased its stake in shares of Visa by 2.1% during the first quarter. Matthew Goff Investment Advisor LLC now owns 68,732 shares of the credit-card processor’s stock valued at $19,182,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.1 %

NYSE:V opened at $290.62 on Friday. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The business has a fifty day moving average price of $276.91 and a 200-day moving average price of $272.91. The firm has a market capitalization of $531.53 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents 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. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on V shares. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. 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, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.