Shorepoint Capital Partners LLC Invests $4.20 Million in Visa Inc. $V

Shorepoint Capital Partners LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the third quarter, Holdings Channel reports. The firm purchased 12,309 shares of the credit-card processor’s stock, valued at approximately $4,202,000.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after purchasing an additional 21,401 shares during the last quarter. Precedent Wealth Partners LLC lifted its position in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after buying an additional 5,295 shares during the period. Consilium Wealth Advisory LLC acquired a new stake in shares of Visa during the second quarter valued at about $862,000. Finally, Iron Gate Global Advisors LLC increased its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. HSBC upgraded shares of Visa from a “hold” rating to a “buy” rating and upped their price objective for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Evercore ISI set a $380.00 target price on Visa in a research note on Friday. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $402.52.

Visa Stock Down 0.5%

Visa stock opened at $345.21 on Wednesday. The firm has a market capitalization of $628.88 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.04 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock’s fifty day simple moving average is $337.52 and its 200-day simple moving average is $344.89.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 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 firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm posted $2.71 EPS. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts expect 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 was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is currently 26.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction 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. This represents a 26.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.12% of the company’s stock.

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.