Addison Advisors LLC Increases Position in Visa Inc. (NYSE:V)

Addison Advisors LLC boosted its holdings in Visa Inc. (NYSE:V) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,612 shares of the credit-card processor’s stock after acquiring an additional 42 shares during the period. Addison Advisors LLC’s holdings in Visa were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in V. WFA Asset Management Corp boosted its stake in shares of Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Visa by 16.0% during the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after purchasing an additional 8,086 shares during the last quarter. Cozad Asset Management Inc. boosted its stake in shares of Visa by 2.3% during the 1st quarter. Cozad Asset Management Inc. now owns 4,519 shares of the credit-card processor’s stock worth $1,261,000 after purchasing an additional 100 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Visa by 137.2% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 1,907 shares of the credit-card processor’s stock worth $532,000 after purchasing an additional 1,103 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Susquehanna raised their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Up 1.0 %

Shares of NYSE:V opened at $310.98 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $283.95 and a 200 day simple moving average of $274.67. The firm has a market cap of $566.70 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a 12-month low of $244.11 and a 12-month high of $312.44.

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, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s payout ratio is presently 21.38%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Visa Company 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.