Miracle Mile Advisors LLC Has $19.68 Million Stock Position in Visa Inc. $V

Miracle Mile Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 57,658 shares of the credit-card processor’s stock after acquiring an additional 3,543 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Visa were worth $19,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. BankPlus Wealth Management LLC raised its position in shares of Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after purchasing an additional 29 shares during the period. Transcendent Capital Group LLC increased its stake in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors raised its holdings in Visa by 0.9% during the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after buying an additional 29 shares during the period. Finally, Interchange Capital Partners LLC lifted its stake in Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

NYSE:V opened at $346.52 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50-day simple moving average is $339.15 and its 200 day simple moving average is $343.86. The company has a market cap of $631.26 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.06 and a beta of 0.82. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS 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 $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 26.25%.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Evercore ISI set a $380.00 target price on Visa in a report on Friday, December 12th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated 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. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was 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 in the company, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,557 shares of company stock worth $4,586,137. Insiders own 0.12% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.