Commonwealth Retirement Investments LLC Boosts Holdings in Visa Inc. (NYSE:V)

Commonwealth Retirement Investments LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,243 shares of the credit-card processor’s stock after acquiring an additional 267 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Visa were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. grew its holdings in shares of Visa by 25.2% during the third quarter. Savvy Advisors Inc. now owns 5,237 shares of the credit-card processor’s stock worth $1,440,000 after buying an additional 1,054 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Visa by 3.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 36,520 shares of the credit-card processor’s stock worth $10,041,000 after acquiring an additional 1,320 shares during the last quarter. Verus Capital Partners LLC boosted its position in shares of Visa by 6.1% in the third quarter. Verus Capital Partners LLC now owns 8,829 shares of the credit-card processor’s stock worth $2,428,000 after acquiring an additional 510 shares during the last quarter. Meridian Management Co. boosted its position in shares of Visa by 3.1% in the third quarter. Meridian Management Co. now owns 16,006 shares of the credit-card processor’s stock worth $4,401,000 after acquiring an additional 482 shares during the last quarter. Finally, Platform Technology Partners boosted its position in shares of Visa by 1.4% in the third quarter. Platform Technology Partners now owns 9,696 shares of the credit-card processor’s stock worth $2,666,000 after acquiring an additional 133 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.2 %

V stock opened at $309.82 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $244.11 and a 1-year high of $312.44. The firm has a fifty day moving average price of $284.64 and a two-hundred day moving average price of $274.92. The firm has a market cap of $564.59 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm 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 firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company 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. This is an increase 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 dividend yield of 0.76%. Visa’s payout ratio is 21.38%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on V. 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. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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.