Aptus Capital Advisors LLC Acquires 23,638 Shares of Visa Inc. (NYSE:V)

Aptus Capital Advisors LLC grew its holdings in Visa Inc. (NYSE:V) by 18.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,473 shares of the credit-card processor’s stock after acquiring an additional 23,638 shares during the period. Aptus Capital Advisors LLC’s holdings in Visa were worth $41,922,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. KMG Fiduciary Partners LLC raised its position in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares during the period. Iron Horse Wealth Management LLC raised its position in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. Washington Trust Bank raised its position in Visa by 1.1% in the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after acquiring an additional 37 shares during the period. Proffitt & Goodson Inc. raised its position in Visa by 20.3% in the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock worth $60,000 after acquiring an additional 37 shares during the period. Finally, Tlwm raised its position in Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V opened at $309.82 on Wednesday. The company has a 50 day moving average price of $284.64 and a 200-day moving average price of $274.92. Visa Inc. has a fifty-two week low of $244.11 and a fifty-two week high of $312.44. The stock has a market capitalization of $564.59 billion, a PE ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Macquarie increased their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.