Aviance Capital Partners LLC Has $6.08 Million Stock Holdings in Visa Inc. (NYSE:V)

Aviance Capital Partners LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 22,120 shares of the credit-card processor’s stock after acquiring an additional 204 shares during the quarter. Visa makes up 0.8% of Aviance Capital Partners LLC’s investment portfolio, making the stock its 28th largest position. Aviance Capital Partners LLC’s holdings in Visa were worth $6,076,000 as of its most recent filing with the Securities & Exchange Commission.

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

Visa Stock Performance

NYSE V opened at $312.16 on Tuesday. The firm has a market cap of $568.85 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company’s 50 day moving average is $287.57 and its 200-day moving average is $276.32. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. 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. Shareholders 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company 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 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.