SOA Wealth Advisors LLC. Has $733,000 Holdings in Visa Inc. (NYSE:V)

SOA Wealth Advisors LLC. cut its stake in shares of Visa Inc. (NYSE:V) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,668 shares of the credit-card processor’s stock after selling 140 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Visa were worth $733,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC increased its position in Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. Geode Capital Management LLC raised its holdings in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

V stock opened at $313.83 on Thursday. The business has a 50 day moving average of $297.08 and a 200-day moving average of $280.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $317.42. The firm has a market cap of $584.62 billion, a PE ratio of 32.25, a P/E/G ratio of 2.07 and a beta of 0.96.

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

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $324.74.

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.