Capital Asset Advisory Services LLC Buys 1,628 Shares of Visa Inc. $V

Capital Asset Advisory Services LLC boosted its stake in Visa Inc. (NYSE:V) by 12.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,607 shares of the credit-card processor’s stock after purchasing an additional 1,628 shares during the period. Capital Asset Advisory Services LLC’s holdings in Visa were worth $4,987,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Visa in the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. raised its stake in shares of Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after buying an additional 2,429,996 shares during the period. Corient Private Wealth LLC lifted its position in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Evercore ISI set a $380.00 price objective on shares of Visa in a research note on Friday. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $402.52.

Visa Stock Performance

Visa stock opened at $347.15 on Tuesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $632.42 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The firm’s 50 day simple moving average is $337.65 and its 200 day simple moving average is $345.04.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 EPS. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is currently 26.25%.

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.