Coastwise Capital Group LLC Increases Stock Position in Visa Inc. (NYSE:V)

Coastwise Capital Group LLC raised its stake in shares of Visa Inc. (NYSE:V) by 23.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the credit-card processor’s stock after purchasing an additional 435 shares during the quarter. Coastwise Capital Group LLC’s holdings in Visa were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Unionview LLC lifted its holdings in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after acquiring an additional 33 shares during the last quarter. FWG Holdings LLC raised its position in Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after purchasing an additional 34 shares during the period. St. Louis Trust Co lifted its stake in Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after purchasing an additional 34 shares during the last quarter. KMG Fiduciary Partners LLC boosted its position in Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after buying an additional 37 shares during the period. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $315.08 on Monday. The stock has a 50-day moving average price of $292.09 and a 200 day moving average price of $278.55. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $252.14 and a 12-month high of $316.37. The stock has a market capitalization of $586.96 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Company 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.