Wolff Wiese Magana LLC Grows Stock Position in Visa Inc. (NYSE:V)

Wolff Wiese Magana LLC increased its position in Visa Inc. (NYSE:V) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,639 shares of the credit-card processor’s stock after acquiring an additional 235 shares during the period. Visa comprises about 2.4% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 6th biggest holding. Wolff Wiese Magana LLC’s holdings in Visa were worth $3,475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Visa by 5.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 38,389 shares of the credit-card processor’s stock valued at $10,555,000 after buying an additional 2,118 shares during the period. Indiana Trust & Investment Management Co boosted its stake in shares of Visa by 0.6% during the 3rd quarter. Indiana Trust & Investment Management Co now owns 8,235 shares of the credit-card processor’s stock worth $2,264,000 after acquiring an additional 51 shares during the last quarter. Baskin Financial Services Inc. grew its position in shares of Visa by 0.4% during the 3rd quarter. Baskin Financial Services Inc. now owns 178,459 shares of the credit-card processor’s stock valued at $49,067,000 after acquiring an additional 748 shares during the period. Leisure Capital Management increased its stake in shares of Visa by 3.7% in the 3rd quarter. Leisure Capital Management now owns 5,606 shares of the credit-card processor’s stock worth $1,541,000 after purchasing an additional 199 shares in the last quarter. Finally, Stableford Capital II LLC raised its holdings in Visa by 0.7% in the 3rd quarter. Stableford Capital II LLC now owns 11,877 shares of the credit-card processor’s stock worth $3,300,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Compass Point began coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and issued a $322.00 target price on shares of Visa in a report on Wednesday, September 25th. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of 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-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock opened at $287.51 on Thursday. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The firm has a market capitalization of $525.83 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a fifty day simple moving average of $275.69 and a two-hundred day simple moving average of $272.74. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.