1,433 Shares in Visa Inc. $V Acquired by Richmond Investment Services LLC

Richmond Investment Services LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,433 shares of the credit-card processor’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the 2nd quarter worth $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in shares of Visa in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is currently owned by insiders.

Visa Trading Down 0.1%

NYSE V opened at $334.10 on Thursday. The company has a market capitalization of $608.65 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company’s fifty day moving average price is $339.91 and its two-hundred day moving average price is $347.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.71 EPS. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 26.25%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley set a $398.00 target price on shares of Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Barclays reiterated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $425.00 price objective on Visa in a research note on Wednesday, October 29th. Finally, UBS Group set a $425.00 target price on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.