Visa Inc. (NYSE:V) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its position in Visa Inc. (NYSE:V) by 3.2% in the third quarter, HoldingsChannel reports. The fund owned 44,409 shares of the credit-card processor’s stock after acquiring an additional 1,384 shares during the quarter. Visa accounts for about 1.0% of Verdence Capital Advisors LLC’s portfolio, making the stock its 15th largest position. Verdence Capital Advisors LLC’s holdings in Visa were worth $12,210,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. WFA Asset Management Corp raised its position in shares of Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after acquiring an additional 16,078 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after acquiring an additional 8,086 shares in the last quarter. Primoris Wealth Advisors LLC boosted its stake in shares of Visa by 2.2% in the first quarter. Primoris Wealth Advisors LLC now owns 2,598 shares of the credit-card processor’s stock worth $723,000 after acquiring an additional 55 shares during the last quarter. Finally, TCI Wealth Advisors Inc. increased its position in shares of Visa by 4.0% during the first quarter. TCI Wealth Advisors Inc. now owns 5,312 shares of the credit-card processor’s stock worth $1,482,000 after purchasing an additional 205 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V opened at $307.87 on Friday. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $311.15. The company has a fifty day simple moving average of $283.95 and a two-hundred day simple moving average of $274.67. 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 company has a market cap of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for 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%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared 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. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on V. Citigroup lifted their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa 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.