Mutual of America Capital Management LLC Increases Position in Visa Inc. (NYSE:V)

Mutual of America Capital Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 2.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 221,863 shares of the credit-card processor’s stock after purchasing an additional 4,266 shares during the period. Visa comprises approximately 0.6% of Mutual of America Capital Management LLC’s portfolio, making the stock its 17th largest holding. Mutual of America Capital Management LLC’s holdings in Visa were worth $61,001,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC grew 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 worth $34,000 after purchasing an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC increased 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 purchasing an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the 2nd quarter valued at $35,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Up 0.5 %

Shares of V stock opened at $309.64 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The firm has a market capitalization of $564.26 billion, a PE ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. The stock’s 50-day simple moving average is $287.04 and its 200-day simple moving average is $275.95.

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

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

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.