9258 Wealth Management LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

9258 Wealth Management LLC increased its stake in Visa Inc. (NYSE:VFree Report) by 2.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,656 shares of the credit-card processor’s stock after purchasing an additional 159 shares during the quarter. 9258 Wealth Management LLC’s holdings in Visa were worth $1,531,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HWG Holdings LP raised its stake in Visa by 18.4% during the 2nd quarter. HWG Holdings LP now owns 270 shares of the credit-card processor’s stock worth $64,000 after buying an additional 42 shares during the period. Gateway Advisory LLC raised its position in shares of Visa by 3.7% during the second quarter. Gateway Advisory LLC now owns 1,191 shares of the credit-card processor’s stock worth $283,000 after purchasing an additional 43 shares during the period. Powers Advisory Group LLC lifted its holdings in shares of Visa by 4.1% during the 3rd quarter. Powers Advisory Group LLC now owns 1,101 shares of the credit-card processor’s stock valued at $253,000 after purchasing an additional 43 shares in the last quarter. Marco Investment Management LLC grew its position in shares of Visa by 3.9% in the 3rd quarter. Marco Investment Management LLC now owns 1,141 shares of the credit-card processor’s stock valued at $262,000 after purchasing an additional 43 shares during the period. Finally, Eastover Investment Advisors LLC increased its stake in Visa by 0.8% during the 2nd quarter. Eastover Investment Advisors LLC now owns 5,402 shares of the credit-card processor’s stock worth $1,283,000 after purchasing an additional 44 shares in the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on V shares. Seaport Res Ptn reiterated a “neutral” rating on shares of Visa in a report on Thursday, October 12th. Jefferies Financial Group increased their target price on Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Oppenheimer boosted their price target on Visa from $248.00 to $252.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Royal Bank of Canada upped their price target on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Raymond James lifted their price objective on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $290.55.

Check Out Our Latest Report on V

Visa Stock Performance

Shares of V traded up $0.08 during trading hours on Tuesday, hitting $275.66. The company had a trading volume of 1,573,619 shares, compared to its average volume of 5,548,842. The business has a fifty day moving average of $262.82 and a 200-day moving average of $248.35. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm has a market cap of $506.25 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.91 and a beta of 0.97. Visa Inc. has a 12 month low of $208.76 and a 12 month high of $279.99.

Visa (NYSE:VGet Free Report) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 earnings per share. Equities analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 8th. Visa’s dividend payout ratio (DPR) is 23.94%.

Insiders Place Their Bets

In related news, insider Rajat Taneja sold 7,811 shares of Visa stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $253.17, for a total value of $1,977,510.87. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,763,795.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 7,811 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $253.17, for a total value of $1,977,510.87. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $58,763,795.04. The disclosure for this sale can be found here. Insiders have sold 94,857 shares of company stock worth $24,966,149 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

About Visa

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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