Narwhal Capital Management Acquires 9,649 Shares of Visa Inc. $V

Narwhal Capital Management boosted its holdings in shares of Visa Inc. (NYSE:V) by 19.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,895 shares of the credit-card processor’s stock after acquiring an additional 9,649 shares during the quarter. Visa accounts for 1.5% of Narwhal Capital Management’s portfolio, making the stock its 14th biggest holding. Narwhal Capital Management’s holdings in Visa were worth $20,447,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Visa in the second quarter worth about $7,034,939,000. TCI Fund Management Ltd. lifted its holdings in Visa by 14.6% during the 2nd 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 in the last quarter. Corient Private Wealth LLC boosted its position in Visa by 110.4% in 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 period. Vanguard Group Inc. grew its stake in Visa by 0.9% in 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

V opened at $349.75 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 $637.15 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.06 and a beta of 0.81. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The stock has a fifty day moving average price of $340.09 and a 200-day moving average price of $344.13.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,042 shares of company stock valued at $8,247,289 over the last 90 days. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on V. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.