Capital Counsel LLC NY Has $223.71 Million Position in Visa Inc. (NYSE:V)

Capital Counsel LLC NY grew its holdings in shares of Visa Inc. (NYSE:V) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 813,630 shares of the credit-card processor’s stock after buying an additional 5,607 shares during the period. Visa accounts for approximately 9.6% of Capital Counsel LLC NY’s holdings, making the stock its 5th biggest position. Capital Counsel LLC NY’s holdings in Visa were worth $223,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hardy Reed LLC boosted its stake in Visa by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 13,936 shares of the credit-card processor’s stock valued at $3,832,000 after purchasing an additional 536 shares during the last quarter. RBO & Co. LLC raised its stake in shares of Visa by 2.0% in the third quarter. RBO & Co. LLC now owns 5,291 shares of the credit-card processor’s stock worth $1,455,000 after purchasing an additional 104 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Visa by 2.4% during the third quarter. Townsquare Capital LLC now owns 274,132 shares of the credit-card processor’s stock valued at $75,373,000 after purchasing an additional 6,446 shares in the last quarter. Cadence Bank boosted its position in shares of Visa by 2.4% during the third quarter. Cadence Bank now owns 18,026 shares of the credit-card processor’s stock valued at $4,956,000 after buying an additional 425 shares during the last quarter. Finally, Shum Financial Group Inc. bought a new stake in Visa in the 3rd quarter worth about $1,171,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE V opened at $311.82 on Wednesday. The stock’s fifty day moving average price is $290.37 and its 200 day moving average price is $277.80. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $314.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $580.88 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last issued its 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 analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.19 earnings per share 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 given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Mizuho raised their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the company a “buy” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate 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.