6,868 Shares in Visa Inc. $V Acquired by Meadowbrook Wealth Management LLC

Meadowbrook Wealth Management LLC bought a new stake in Visa Inc. (NYSE:V) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 6,868 shares of the credit-card processor’s stock, valued at approximately $2,345,000. Visa comprises approximately 2.4% of Meadowbrook Wealth Management LLC’s portfolio, making the stock its 11th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the second quarter valued at $29,000. Sagard Holdings Management Inc. acquired a new stake in Visa in the second quarter valued at $31,000. Cranbrook Wealth Management LLC lifted its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc boosted its position in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $349.45 on Monday. 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 cap of $636.61 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The company’s 50 day simple moving average is $337.48 and its 200-day simple moving average is $344.47. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

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 the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 EPS. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Hsbc Global Res upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Evercore ISI set a $380.00 target price on shares of Visa in a report on Friday, December 12th. Finally, Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $402.52.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 over the last quarter. 0.12% of the stock is currently owned by insiders.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.