Covestor Ltd Purchases 54 Shares of Visa Inc. (NYSE:V)

Covestor Ltd grew its position in Visa Inc. (NYSE:V) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,220 shares of the credit-card processor’s stock after purchasing an additional 54 shares during the quarter. Covestor Ltd’s holdings in Visa were worth $336,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. WFA Asset Management Corp boosted its stake in Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Visa by 46.9% in 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 buying an additional 16,078 shares during the period. Empowered Funds LLC increased its position in Visa by 16.0% in the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after buying an additional 8,086 shares in the last quarter. Primoris Wealth Advisors LLC raised its stake in Visa by 2.2% during the 1st quarter. Primoris Wealth Advisors LLC now owns 2,598 shares of the credit-card processor’s stock worth $723,000 after buying an additional 55 shares during the period. Finally, TCI Wealth Advisors Inc. boosted its holdings in Visa by 4.0% in the first quarter. TCI Wealth Advisors Inc. now owns 5,312 shares of the credit-card processor’s stock worth $1,482,000 after acquiring an additional 205 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE:V opened at $307.87 on Friday. The company has a market capitalization of $561.03 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. The business has a fifty day simple moving average of $283.95 and a two-hundred day simple moving average of $274.67. 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 1 year low of $240.97 and a 1 year high of $311.15.

Visa (NYSE:V) last announced its quarterly earnings data 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 return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

About Visa

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.