Baker Ellis Asset Management LLC Has $2.21 Million Holdings in Visa Inc. $V

Baker Ellis Asset Management LLC raised its holdings in Visa Inc. (NYSE:V) by 50.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,463 shares of the credit-card processor’s stock after buying an additional 2,169 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Visa were worth $2,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth $28,000. Harbor Asset Planning Inc. acquired a new stake in Visa in the 2nd quarter valued at about $29,000. Sagard Holdings Management Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at $31,000. Cranbrook Wealth Management LLC boosted 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 valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc raised its position in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,042 shares of company stock valued at $8,247,289 over the last ninety days. 0.12% of the stock is owned by company insiders.

Visa Stock Down 0.7%

Shares of NYSE:V opened at $349.75 on Friday. The firm has a market cap of $637.15 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.06 and a beta of 0.81. The business has a fifty day simple moving average of $340.09 and a 200 day simple moving average of $344.14. 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 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. 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 company earned $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is an increase 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 was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Macquarie cut their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $402.52.

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.