Tcfg Wealth Management LLC Boosts Stock Position in Visa Inc. $V

Tcfg Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 312.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,046 shares of the credit-card processor’s stock after purchasing an additional 28,827 shares during the period. Visa makes up 1.1% of Tcfg Wealth Management LLC’s holdings, making the stock its 20th largest position. Tcfg Wealth Management LLC’s holdings in Visa were worth $12,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Vanguard Group Inc. increased its holdings in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares during the period. Capital World Investors raised its position in Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares during the last quarter. Norges Bank acquired a new stake in Visa during the 2nd quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. boosted its holdings in shares of Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Visa by 4.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock valued at $4,475,403,000 after acquiring an additional 530,995 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Bank of America started coverage on shares of Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 target price for the company. Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Evercore set a $380.00 price objective on Visa in a research note on Friday, December 12th. Finally, TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Visa presently has an average rating of “Buy” and an average target price of $392.65.

Visa Stock Down 0.5%

V opened at $308.55 on Wednesday. The company has a market cap of $560.07 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a 50-day moving average price of $323.65 and a 200 day moving average price of $335.32. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the firm posted $2.75 EPS. Visa’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the transaction, the director owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

About Visa

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.