Visa Inc. (NYSE:V) Shares Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC grew its position in shares of Visa Inc. (NYSE:V) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,264 shares of the credit-card processor’s stock after purchasing an additional 192 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Visa were worth $716,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Custom Index Systems LLC bought a new position in shares of Visa in the third quarter valued at $731,000. Copley Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth $616,000. FORA Capital LLC purchased a new stake in shares of Visa during the third quarter valued at $7,987,000. Chicago Capital LLC boosted its position in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC increased its stake in Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after purchasing an additional 55,273 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. 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 report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Susquehanna increased their price objective on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Four equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $331.92.

Visa Stock Up 0.9 %

Shares of Visa stock opened at $319.97 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $313.41 and a two-hundred day moving average price of $288.45. The stock has a market capitalization of $596.06 billion, a P/E ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96.

Visa (NYSE:V) last posted 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. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 EPS. Equities analysts expect that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was 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 0.74%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In other news, 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 transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.