Reston Wealth Management LLC Takes Position in Visa Inc. (NYSE:V)

Reston Wealth Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 111 shares of the credit-card processor’s stock, valued at approximately $31,000.

Several other large investors have also recently bought and sold shares of V. Vanguard Group Inc. increased its holdings in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors increased its stake in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors increased its stake in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. lifted its position in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake 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 valued at $3,783,857,000 after buying an additional 312,286 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

Visa Stock Up 0.3 %

Shares of V opened at $290.74 on Friday. Visa Inc. has a 52 week low of $239.20 and a 52 week high of $296.34. The firm has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a 50-day simple moving average of $281.00 and a 200-day simple moving average of $273.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current 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, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s dividend payout ratio is currently 21.38%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Jefferies Financial Group upped their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.70.

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.