LRI Investments LLC Has $8.49 Million Stock Position in Visa Inc. (NYSE:V)

LRI Investments LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 473.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,872 shares of the credit-card processor’s stock after buying an additional 25,485 shares during the quarter. Visa makes up 0.7% of LRI Investments LLC’s portfolio, making the stock its 21st largest position. LRI Investments LLC’s holdings in Visa were worth $8,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in V. Peterson Financial Group Inc. bought a new position in Visa in the 3rd quarter valued at approximately $26,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In related 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 completion of the transaction, the insider now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on V shares. TD Cowen lifted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Bank of America boosted their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Mizuho raised their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

NYSE V opened at $311.01 on Monday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $317.42. The company has a fifty day moving average of $295.71 and a 200-day moving average of $279.74. The company has a market capitalization of $579.37 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business 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 business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $2.33 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

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.