Westfuller Advisors LLC Acquires Shares of 1,589 Visa Inc. (NYSE:V)

Westfuller Advisors LLC bought a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,589 shares of the credit-card processor’s stock, valued at approximately $437,000.

Several other hedge funds have also recently made changes to their positions in the business. S&CO Inc. grew its stake in Visa by 26.6% in the third quarter. S&CO Inc. now owns 15,660 shares of the credit-card processor’s stock worth $4,305,000 after purchasing an additional 3,289 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Visa by 370.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,018,323 shares of the credit-card processor’s stock worth $279,988,000 after acquiring an additional 801,725 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of Visa by 42.7% during the third quarter. Claro Advisors LLC now owns 9,194 shares of the credit-card processor’s stock valued at $2,528,000 after purchasing an additional 2,750 shares in the last quarter. Cardano Risk Management B.V. lifted its holdings in shares of Visa by 48.6% during the third quarter. Cardano Risk Management B.V. now owns 744,806 shares of the credit-card processor’s stock valued at $204,784,000 after purchasing an additional 243,442 shares in the last quarter. Finally, Ceera Investments LLC bought a new position in shares of Visa during the third quarter valued at $941,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.5 %

Visa stock opened at $309.64 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The business’s 50-day simple moving average is $287.04 and its two-hundred day simple moving average is $275.95. The company has a market cap of $564.26 billion, a PE ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. Equities analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on V. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

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.