RIA Advisory Group LLC Makes New $213,000 Investment in Visa Inc. (NYSE:V)

RIA Advisory Group LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 775 shares of the credit-card processor’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also modified their holdings of the company. WFA Asset Management Corp grew its stake in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after purchasing an additional 8,086 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Visa during the 1st quarter worth about $2,499,000. Hillsdale Investment Management Inc. lifted its position in shares of Visa by 3.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,166 shares of the credit-card processor’s stock worth $604,000 after purchasing an additional 73 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Visa by 12.9% during the 1st quarter. Covestor Ltd now owns 1,563 shares of the credit-card processor’s stock valued at $437,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. TD Cowen upped their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased 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. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Visa Stock Up 0.5 %

NYSE V opened at $309.64 on Friday. The stock’s 50 day simple moving average is $287.04 and its 200 day simple moving average is $275.95. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The firm has a market cap of $564.26 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. 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 (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.