Turtle Creek Wealth Advisors LLC Raises Position in Visa Inc. (NYSE:V)

Turtle Creek Wealth Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,891 shares of the credit-card processor’s stock after acquiring an additional 700 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Visa were worth $4,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of V. Arjuna Capital raised its position in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the period. Custom Index Systems LLC bought a new stake in shares of Visa during the 3rd quarter valued at $731,000. Mechanics Bank Trust Department raised its position in shares of Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after purchasing an additional 2,410 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares during the period. Finally, Chicago Capital LLC raised its position in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley lifted their price target on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

Visa stock traded up $1.39 during mid-day trading on Friday, reaching $309.64. 5,106,284 shares of the company traded hands, compared to its average volume of 5,762,525. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The company has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The firm’s fifty day moving average is $287.04 and its two-hundred day moving average is $275.90.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Visa 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.