Meadowbrook Wealth Management LLC Acquires New Position in Visa Inc. $V

Meadowbrook Wealth Management LLC bought a new position in Visa Inc. (NYSE:V) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,868 shares of the credit-card processor’s stock, valued at approximately $2,345,000. Visa makes up approximately 2.4% of Meadowbrook Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. BankPlus Wealth Management LLC boosted its stake in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 29 shares during the last quarter. Transcendent Capital Group LLC raised its holdings in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Insight Wealth Strategies LLC raised its holdings in shares of Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after acquiring an additional 29 shares during the period. Old Port Advisors boosted its position in shares of Visa by 0.9% during the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after acquiring an additional 29 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its holdings in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Macquarie reduced their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Evercore ISI set a $380.00 target price on Visa in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $402.52.

Visa Stock Up 1.0%

NYSE:V opened at $349.45 on Monday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock’s fifty day moving average is $337.48 and its two-hundred day moving average is $344.47. The stock has a market capitalization of $636.61 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth 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 (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the business earned $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.