Meridian Wealth Advisors LLC Boosts Holdings in Visa Inc. (NYSE:V)

Meridian Wealth Advisors LLC increased its holdings in Visa Inc. (NYSE:V) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,950 shares of the credit-card processor’s stock after acquiring an additional 664 shares during the quarter. Visa comprises about 1.4% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Meridian Wealth Advisors LLC’s holdings in Visa were worth $6,235,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of V. International Assets Investment Management LLC increased its stake in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after acquiring an additional 4,710,188 shares in the last quarter. FMR LLC increased its stake in Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Visa during the 3rd quarter valued at about $358,349,000. The Manufacturers Life Insurance Company increased its stake in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after purchasing an additional 999,167 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Visa by 28.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after purchasing an additional 871,439 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 0.0 %

Visa stock opened at $277.18 on Thursday. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a market cap of $506.95 billion, a PE ratio of 30.97, a PEG ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business’s 50-day simple moving average is $277.81 and its two-hundred day simple moving average is $266.37.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 earnings per share. Equities analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Robert W. Baird lifted their price target on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Barclays lifted their price target on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company lifted their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.00.

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.