Allen Capital Group LLC Buys 891 Shares of Visa Inc. (NYSE:V)

Allen Capital Group LLC increased its stake in Visa Inc. (NYSE:V) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,137 shares of the credit-card processor’s stock after purchasing an additional 891 shares during the quarter. Allen Capital Group LLC’s holdings in Visa were worth $3,337,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of V. Ameriprise Financial Inc. grew its holdings 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 buying an additional 345,829 shares in the last quarter. Legal & General Group Plc grew its stake in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Visa by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after acquiring an additional 670,590 shares in the last quarter. International Assets Investment Management LLC grew its stake in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. Finally, Ninety One UK Ltd grew its stake in Visa by 0.7% during the second quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock valued at $2,065,103,000 after acquiring an additional 55,437 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.9 %

V stock opened at $310.23 on Friday. The company has a market capitalization of $565.32 billion, a PE ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $312.44. The firm’s 50-day moving average is $289.07 and its 200 day moving average is $277.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. 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 research firms recently weighed in on V. Mizuho raised their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

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.