Visa Inc. (NYSE:V) Shares Acquired by True Wealth Design LLC

True Wealth Design LLC boosted its holdings in Visa Inc. (NYSE:V) by 1,325.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 342 shares of the credit-card processor’s stock after purchasing an additional 318 shares during the period. True Wealth Design LLC’s holdings in Visa were worth $94,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of V. Arjuna Capital raised its stake in shares of Visa by 0.8% in 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 in the last quarter. Custom Index Systems LLC bought a new stake in Visa in the third quarter valued at about $731,000. Mechanics Bank Trust Department raised its stake in Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares in the last quarter. Chicago Capital LLC lifted its holdings in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Visa in the 3rd quarter worth approximately $7,987,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. Macquarie raised their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $321.00 price target (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays upped their target price on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Up 0.1 %

Shares of V stock opened at $315.08 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $586.96 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The business’s fifty day moving average is $292.09 and its 200-day moving average is $278.57. Visa Inc. has a 1 year low of $252.14 and a 1 year high of $316.37.

Visa (NYSE:V) last released its 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company earned $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.