West Coast Financial LLC Purchases 297 Shares of Visa Inc. (NYSE:V)

West Coast Financial LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,632 shares of the credit-card processor’s stock after acquiring an additional 297 shares during the period. West Coast Financial LLC’s holdings in Visa were worth $9,247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jessup Wealth Management Inc increased its stake in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC increased its position in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC raised its holdings in Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares during the period. Tlwm lifted its position in Visa by 0.7% in the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in Visa by 0.5% during the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.3 %

NYSE:V traded down $0.73 during trading hours on Friday, hitting $276.74. The stock had a trading volume of 1,553,154 shares, compared to its average volume of 7,112,624. The company has a market cap of $504.31 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The business has a 50 day simple moving average of $273.94 and a two-hundred day simple moving average of $272.75. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm earned $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 22.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on V shares. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Friday, September 27th. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $312.04.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

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.