Maxwell Wealth Strategies Inc. Grows Position in Visa Inc. (NYSE:V)

Maxwell Wealth Strategies Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 11.9% in the third quarter, Holdings Channel.com reports. The firm owned 14,362 shares of the credit-card processor’s stock after buying an additional 1,528 shares during the period. Visa comprises about 1.8% of Maxwell Wealth Strategies Inc.’s investment portfolio, making the stock its 15th biggest position. Maxwell Wealth Strategies Inc.’s holdings in Visa were worth $4,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC grew its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa during the 2nd quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $309.64 on Friday. The firm has a market cap of $564.26 billion, a P/E ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. 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 50 day moving average of $287.04 and a 200 day moving average of $275.90.

Visa (NYSE:V) last posted 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Susquehanna lifted their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Mizuho lifted their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Barclays upped their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four investment 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 company. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity

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 value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate 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.