Resurgent Financial Advisors LLC Has $1.28 Million Holdings in Visa Inc. (NYSE:V)

Resurgent Financial Advisors LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,657 shares of the credit-card processor’s stock after selling 62 shares during the period. Resurgent Financial Advisors LLC’s holdings in Visa were worth $1,280,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. grew its stake in Visa by 2.2% in the second quarter. Wesbanco Bank Inc. now owns 8,253 shares of the credit-card processor’s stock valued at $2,166,000 after acquiring an additional 179 shares during the period. Duncan Williams Asset Management LLC raised its holdings in Visa by 9.6% during the second quarter. Duncan Williams Asset Management LLC now owns 4,664 shares of the credit-card processor’s stock worth $1,224,000 after acquiring an additional 408 shares in the last quarter. BDF Gestion bought a new stake in Visa during the second quarter worth about $14,348,000. Manning & Napier Advisors LLC bought a new stake in Visa during the second quarter worth about $201,512,000. Finally, CHICAGO TRUST Co NA raised its holdings in Visa by 11.3% during the second quarter. CHICAGO TRUST Co NA now owns 20,326 shares of the credit-card processor’s stock worth $5,335,000 after acquiring an additional 2,060 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Visa Stock Down 1.0 %

Shares of NYSE:V opened at $309.89 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $577.28 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. The firm has a fifty day moving average of $294.25 and a 200 day moving average of $279.25. Visa Inc. has a 52-week low of $252.14 and a 52-week high of $317.42.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on V. Royal Bank of Canada upped their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.