Peak Asset Management LLC Has $15.77 Million Stock Position in Visa Inc. (NYSE:V)

Peak Asset Management LLC lowered its holdings in Visa Inc. (NYSE:V) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,370 shares of the credit-card processor’s stock after selling 2,233 shares during the period. Visa makes up about 3.0% of Peak Asset Management LLC’s portfolio, making the stock its 11th largest holding. Peak Asset Management LLC’s holdings in Visa were worth $15,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. KMG Fiduciary Partners LLC increased its position in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares during the period. Iron Horse Wealth Management LLC grew its holdings in Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. Washington Trust Bank raised its position in shares of Visa by 1.1% in the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after acquiring an additional 37 shares in the last quarter. Proffitt & Goodson Inc. lifted its stake in shares of Visa by 20.3% in the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after purchasing an additional 37 shares during the period. Finally, Tlwm boosted its position in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on V. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Susquehanna upped their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Down 0.1 %

V opened at $309.51 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a one year low of $245.34 and a one year high of $312.44. The firm has a market capitalization of $564.02 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a fifty day moving average price of $285.26 and a 200-day moving average price of $275.17.

Visa (NYSE:V) last issued its quarterly 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. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.33 EPS. Equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

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

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.