Shum Financial Group Inc. Takes $1.17 Million Position in Visa Inc. (NYSE:V)

Shum Financial Group Inc. acquired a new position in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,992 shares of the credit-card processor’s stock, valued at approximately $1,171,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC bought a new stake in Visa in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated 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 transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’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 value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on V shares. Robert W. Baird upped 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. Morgan Stanley increased their price target on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Down 0.4 %

NYSE:V traded down $1.28 during mid-day trading on Tuesday, reaching $311.91. The stock had a trading volume of 396,094 shares, compared to its average volume of 6,963,716. The business’s 50 day moving average is $289.96 and its 200 day moving average is $277.58. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $314.50. The stock has a market cap of $581.05 billion, a P/E ratio of 32.15, a PEG ratio of 2.08 and a beta of 0.95. 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 earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Visa 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.