Whalen Wealth Management Inc. Buys New Position in Visa Inc. (NYSE:V)

Whalen Wealth Management Inc. purchased a new position in Visa Inc. (NYSE:V) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 776 shares of the credit-card processor’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Caprock Group LLC boosted its holdings in Visa by 0.8% during the third quarter. Caprock Group LLC now owns 65,681 shares of the credit-card processor’s stock worth $18,059,000 after buying an additional 538 shares in the last quarter. St. Louis Trust Co lifted its position in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares during the last quarter. Aviance Capital Partners LLC grew its holdings in shares of Visa by 0.9% in the 3rd quarter. Aviance Capital Partners LLC now owns 22,120 shares of the credit-card processor’s stock worth $6,076,000 after acquiring an additional 204 shares during the last quarter. Baron Wealth Management LLC raised its position in shares of Visa by 10.3% during the third quarter. Baron Wealth Management LLC now owns 3,615 shares of the credit-card processor’s stock worth $994,000 after purchasing an additional 339 shares during the period. Finally, Joseph Group Capital Management lifted its holdings in shares of Visa by 28.9% during the third quarter. Joseph Group Capital Management now owns 14,422 shares of the credit-card processor’s stock valued at $3,965,000 after purchasing an additional 3,236 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group upped their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four 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 company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Price Performance

Shares of Visa stock opened at $312.16 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $287.57 and a 200-day simple moving average of $276.32. The stock has a market capitalization of $568.85 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44.

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, topping analysts’ consensus estimates 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 net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company 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.