NewEdge Advisors LLC Boosts Holdings in Visa Inc. $V

NewEdge Advisors LLC raised its position in Visa Inc. (NYSE:V) by 2.2% in the 2nd quarter, Holdings Channel reports. The fund owned 387,442 shares of the credit-card processor’s stock after acquiring an additional 8,166 shares during the period. Visa accounts for approximately 0.7% of NewEdge Advisors LLC’s holdings, making the stock its 20th biggest position. NewEdge Advisors LLC’s holdings in Visa were worth $137,561,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after buying an additional 477 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Visa by 8.0% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,521 shares of the credit-card processor’s stock worth $527,000 after purchasing an additional 113 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC grew its holdings in shares of Visa by 41.8% during the first quarter. Sustainable Insight Capital Management LLC now owns 1,358 shares of the credit-card processor’s stock worth $476,000 after buying an additional 400 shares in 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 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,042 shares of company stock worth $8,175,152 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $326.40 on Wednesday. The firm has a fifty day moving average of $338.17 and a 200-day moving average of $345.52. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a market cap of $594.61 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Hsbc Global Res raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday. Macquarie reduced their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $399.52.

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.