AdvisorNet Financial Inc Has $2.15 Million Stock Position in Visa Inc. (NYSE:V)

AdvisorNet Financial Inc reduced its position in Visa Inc. (NYSE:V) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,815 shares of the credit-card processor’s stock after selling 48 shares during the quarter. AdvisorNet Financial Inc’s holdings in Visa were worth $2,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after buying an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. State Street Corp raised its stake in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC lifted its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Visa stock opened at $309.24 on Wednesday. The firm has a market capitalization of $576.08 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.11 and a beta of 0.96. The stock has a fifty day moving average price of $312.76 and a two-hundred day moving average price of $287.65. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $2.33 EPS. As a group, analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

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

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group boosted their target price 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. Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

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.