Pekin Hardy Strauss Inc. Grows Position in Visa Inc. (NYSE:V)

Pekin Hardy Strauss Inc. raised its position in Visa Inc. (NYSE:V) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,771 shares of the credit-card processor’s stock after purchasing an additional 80 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Visa were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Unionview LLC grew its stake in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares in the last quarter. St. Louis Trust Co grew its position in Visa by 0.9% in the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares in the last quarter. FWG Holdings LLC increased its stake in Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the period. KMG Fiduciary Partners LLC raised its position in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares in the last quarter. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.0 %

Shares of NYSE:V opened at $309.92 on Friday. The firm has a fifty day moving average of $289.52 and a two-hundred day moving average of $277.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $312.44. The firm has a market capitalization of $577.34 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data 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 return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on V. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.