Visa Inc. (NYSE:V) Shares Purchased by Absher Wealth Management LLC

Absher Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,087 shares of the credit-card processor’s stock after acquiring an additional 1,883 shares during the quarter. Visa comprises 3.2% of Absher Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Absher Wealth Management LLC’s holdings in Visa were worth $24,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Hilltop National Bank purchased a new stake in shares of Visa in the 1st quarter valued at approximately $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa during the 1st quarter worth $404,000. Davidson Capital Management Inc. boosted its stake in Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC boosted its stake in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital raised its position in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.3 %

Shares of V stock opened at $290.74 on Friday. The stock has a market cap of $529.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The firm’s 50 day moving average price is $281.00 and its two-hundred day moving average price is $273.63. Visa Inc. has a fifty-two week low of $239.20 and a fifty-two week high of $296.34. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its quarterly earnings data 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. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.17 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. 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%.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday. Compass Point started coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday. Four 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 MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $320.70.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.