Keudell Morrison Wealth Management Acquires 243 Shares of Visa Inc. (NYSE:V)

Keudell Morrison Wealth Management boosted its holdings in Visa Inc. (NYSE:V) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,013 shares of the credit-card processor’s stock after purchasing an additional 243 shares during the period. Visa comprises about 0.9% of Keudell Morrison Wealth Management’s portfolio, making the stock its 23rd largest holding. Keudell Morrison Wealth Management’s holdings in Visa were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in V. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa in the second quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Stock Down 0.5 %

NYSE:V opened at $305.76 on Friday. The firm’s 50 day simple moving average is $282.69 and its 200 day simple moving average is $274.20. 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 one year low of $240.97 and a one year high of $309.00. The company has a market cap of $557.19 billion, a PE ratio of 31.42, a P/E/G ratio of 2.06 and a beta of 0.95.

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, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 EPS. On average, research analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 21.38%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Mizuho raised their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Macquarie raised their target price 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. Finally, Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. 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 company. Based on data from MarketBeat, the company presently has an average 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.