Secure Asset Management LLC Grows Stock Position in Visa Inc. $V

Secure Asset Management LLC raised its holdings in Visa Inc. (NYSE:V) by 48.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,150 shares of the credit-card processor’s stock after acquiring an additional 5,265 shares during the period. Visa makes up approximately 0.9% of Secure Asset Management LLC’s portfolio, making the stock its 23rd biggest position. Secure Asset Management LLC’s holdings in Visa were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Family Legacy Financial Solutions LLC acquired a new position in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at $29,000. Sagard Holdings Management Inc. acquired a new stake in shares of Visa during the 2nd quarter worth $31,000. Bare Financial Services Inc raised its position in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last ninety days. Insiders own 0.12% of the company’s stock.

Visa Stock Up 1.0%

NYSE V opened at $349.45 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The business has a 50 day moving average price of $337.48 and a two-hundred day moving average price of $344.47. The stock has a market cap of $636.61 billion, a PE ratio of 34.23, a P/E/G ratio of 2.05 and a beta of 0.82.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued 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 (DPR) is presently 26.25%.

Analyst Ratings Changes

V has been the subject of several research analyst reports. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Morgan Stanley set a $398.00 target price on Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target on the stock in a report on Thursday, December 11th. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted their price target for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $402.52.

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.