Keystone Wealth Services LLC Grows Position in Visa Inc. (NYSE:V)

Keystone Wealth Services LLC raised its position in shares of Visa Inc. (NYSE:V) by 21.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,128 shares of the credit-card processor’s stock after purchasing an additional 740 shares during the quarter. Keystone Wealth Services LLC’s holdings in Visa were worth $1,135,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in shares of Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the 1st quarter worth approximately $25,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Visa in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.5 %

Shares of Visa stock traded down $1.39 on Tuesday, reaching $279.29. The stock had a trading volume of 5,806,344 shares, compared to its average volume of 7,106,448. The company has a 50 day moving average price of $274.65 and a 200 day moving average price of $272.63. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market capitalization of $510.80 billion, a P/E ratio of 31.49, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Citigroup reduced their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets raised their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

About Visa

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.