MAI Capital Management Grows Stock Holdings in Visa Inc. (NYSE:V)

MAI Capital Management lifted its position in Visa Inc. (NYSE:V) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 349,162 shares of the credit-card processor’s stock after buying an additional 2,684 shares during the quarter. Visa makes up 0.9% of MAI Capital Management’s investment portfolio, making the stock its 24th largest holding. MAI Capital Management’s holdings in Visa were worth $96,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new position in Visa during the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Visa Trading Up 0.5 %

Shares of NYSE V opened at $309.64 on Monday. The stock’s 50 day simple moving average is $287.04 and its 200 day simple moving average is $276.01. The company has a market cap of $564.26 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 EPS. Visa’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on V shares. Barclays upped their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen upped their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

About Visa

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.