Capital Asset Advisory Services LLC Has $4.99 Million Position in Visa Inc. $V

Capital Asset Advisory Services LLC lifted its holdings in Visa Inc. (NYSE:V) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,607 shares of the credit-card processor’s stock after acquiring an additional 1,628 shares during the period. Capital Asset Advisory Services LLC’s holdings in Visa were worth $4,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the period. Geode Capital Management LLC increased its stake in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Norges Bank acquired a new position in shares of Visa during the 2nd quarter valued at $7,034,939,000. TCI Fund Management Ltd. boosted its stake in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.2%

V stock opened at $347.15 on Tuesday. The firm has a market capitalization of $632.42 billion, a PE ratio of 34.00, a P/E/G ratio of 2.05 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock’s 50 day moving average is $337.65 and its 200-day moving average is $345.04.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 26.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Bank of America upgraded Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target on the stock in a report on Thursday, December 11th. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Evercore ISI set a $380.00 target price on Visa in a research report on Friday. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $402.52.

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.