Wealth Enhancement Advisory Services LLC Acquires 168,972 Shares of Visa Inc. $V

Wealth Enhancement Advisory Services LLC lifted its stake in Visa Inc. (NYSE:V) by 16.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,208,144 shares of the credit-card processor’s stock after buying an additional 168,972 shares during the period. Visa makes up approximately 0.6% of Wealth Enhancement Advisory Services LLC’s holdings, making the stock its 25th largest holding. Wealth Enhancement Advisory Services LLC owned about 0.07% of Visa worth $425,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Fund Management LLC increased its stake in Visa by 422.7% in the 3rd quarter. Royal Fund Management LLC now owns 4,025 shares of the credit-card processor’s stock worth $1,374,000 after purchasing an additional 3,255 shares during the period. JCIC Asset Management Inc. purchased a new position in shares of Visa in the third quarter worth $8,332,000. Intrua Financial LLC boosted its position in Visa by 21.8% during the 3rd quarter. Intrua Financial LLC now owns 3,345 shares of the credit-card processor’s stock valued at $1,142,000 after buying an additional 598 shares during the period. Axecap Investments LLC grew its holdings in Visa by 8.4% in the 3rd quarter. Axecap Investments LLC now owns 2,769 shares of the credit-card processor’s stock worth $945,000 after acquiring an additional 215 shares during the last quarter. Finally, Rovin Capital UT ADV boosted its holdings in shares of Visa by 23.4% during the third quarter. Rovin Capital UT ADV now owns 1,609 shares of the credit-card processor’s stock worth $549,000 after purchasing an additional 305 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V stock traded down $4.80 during midday trading on Tuesday, reaching $323.50. 1,267,471 shares of the company’s stock traded hands, compared to its average volume of 8,210,070. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market cap of $589.33 billion, a P/E ratio of 31.65, a PEG ratio of 1.93 and a beta of 0.81. The stock’s 50-day moving average is $339.29 and its 200 day moving average is $343.18.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 EPS. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,042 shares of company stock worth $8,247,289. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research note on Thursday, December 11th. Morgan Stanley set a $398.00 target price on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Finally, Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $402.52.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.