Visa Inc. (NYSE:V) Stake Boosted by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its stake in Visa Inc. (NYSE:V) by 3.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,665 shares of the credit-card processor’s stock after acquiring an additional 883 shares during the period. First Horizon Advisors Inc.’s holdings in Visa were worth $6,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at about $26,000. POM Investment Strategies LLC increased its stake 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 acquired a new position in shares of Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC raised its holdings in 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 purchasing an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Barclays increased their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets lifted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

Shares of NYSE V opened at $307.39 on Thursday. Visa Inc. has a one year low of $250.03 and a one year high of $312.44. The business’s 50-day moving average price is $288.57 and its two-hundred day moving average price is $276.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $560.16 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. Analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. 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 0.77%. Visa’s dividend payout ratio is currently 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.