HB Wealth Management LLC Increases Stock Position in Visa Inc. $V

HB Wealth Management LLC grew its position in shares of Visa Inc. (NYSE:V) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,498 shares of the credit-card processor’s stock after purchasing an additional 12,840 shares during the period. HB Wealth Management LLC’s holdings in Visa were worth $66,398,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter valued at $29,000. Sagard Holdings Management Inc. purchased a new stake in Visa during the second quarter valued at $31,000. Bare Financial Services Inc lifted its position in Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on V shares. Robert W. Baird set a $425.00 target price on shares of Visa in a research report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Macquarie lowered their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Hsbc Global Res raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $402.52.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’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 transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,042 shares of company stock worth $8,247,289. Insiders own 0.12% of the company’s stock.

Visa Trading Down 0.7%

Shares of NYSE V opened at $349.75 on Friday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $637.15 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.07 and a beta of 0.81. The business’s 50 day moving average price is $340.09 and its 200-day moving average price is $344.19.

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 analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Visa’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This is a boost 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 dividend payout ratio (DPR) is currently 26.25%.

Visa Profile

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.