Narwhal Capital Management Purchases 9,649 Shares of Visa Inc. $V

Narwhal Capital Management increased its position in Visa Inc. (NYSE:V) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,895 shares of the credit-card processor’s stock after buying an additional 9,649 shares during the period. Visa comprises approximately 1.5% of Narwhal Capital Management’s holdings, making the stock its 14th largest position. Narwhal Capital Management’s holdings in Visa were worth $20,447,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of V. Norges Bank purchased a new stake in shares of Visa during the second quarter worth about $7,034,939,000. TCI Fund Management Ltd. boosted its stake in Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Corient Private Wealth LLC grew its holdings in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Visa by 0.9% during 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 last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

V opened at $349.75 on Monday. 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. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $340.09 and a 200 day moving average of $344.13.

Visa (NYSE:V) last issued 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. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on V shares. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Bank of America upgraded Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research report on Thursday, December 11th. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Five equities research 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 stock presently has an average rating of “Buy” and an average target price of $402.52.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated 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 of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,042 shares of company stock worth $8,247,289 over the last three months. 0.12% of the stock is owned by insiders.

Visa Company 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.