Visa Inc. (NYSE:V) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC grew its position in Visa Inc. (NYSE:V) by 526.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 197,055 shares of the credit-card processor’s stock after purchasing an additional 165,575 shares during the period. Visa accounts for about 2.0% of Icon Wealth Advisors LLC’s portfolio, making the stock its 7th largest holding. Icon Wealth Advisors LLC’s holdings in Visa were worth $54,180,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in Visa in the 3rd quarter valued at $26,000. POM Investment Strategies LLC boosted its position in shares of 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 acquiring an additional 97 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC increased its position 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 acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa in the 2nd quarter worth about $35,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Mizuho increased their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Barclays boosted their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, 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 the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Up 0.9 %

Shares of NYSE:V opened at $310.23 on Friday. The firm has a market cap of $565.32 billion, a P/E ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $312.44. The business has a fifty day simple moving average of $289.07 and a 200 day simple moving average of $277.08. 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 posted 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. 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. During the same period in the previous year, the firm earned $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. 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 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is 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.