First City Capital Management Inc. Purchases 232 Shares of Visa Inc. (NYSE:V)

First City Capital Management Inc. increased its position in shares of Visa Inc. (NYSE:V) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,272 shares of the credit-card processor’s stock after purchasing an additional 232 shares during the period. First City Capital Management Inc.’s holdings in Visa were worth $350,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Visa in the third quarter valued at about $26,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC boosted its stake in 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 bought a new position in Visa in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Trading Up 0.8 %

V stock opened at $312.16 on Tuesday. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The firm’s 50-day moving average is $287.57 and its 200 day moving average is $276.32. The company has a market capitalization of $568.85 billion, a PE ratio of 32.08, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Profile

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.