Fortis Capital Management LLC Buys 812 Shares of Visa Inc. (NYSE:V)

Fortis Capital Management LLC raised its stake in Visa Inc. (NYSE:V) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,921 shares of the credit-card processor’s stock after acquiring an additional 812 shares during the period. Visa makes up about 1.0% of Fortis Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Fortis Capital Management LLC’s holdings in Visa were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. WFA Asset Management Corp grew its position in Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the period. Empowered Funds LLC increased its holdings in Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after purchasing an additional 8,086 shares during the period. Beacon Investment Advisory Services Inc. raised its position in Visa by 25.6% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 3,928 shares of the credit-card processor’s stock worth $1,096,000 after purchasing an additional 800 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Visa by 5.4% during the first quarter. Brighton Jones LLC now owns 13,850 shares of the credit-card processor’s stock worth $3,865,000 after acquiring an additional 708 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 0.1 %

V opened at $309.51 on Thursday. Visa Inc. has a 12 month low of $245.34 and a 12 month high of $312.44. The company has a market cap of $564.02 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $285.26 and a 200 day moving average of $275.17.

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

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change 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 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Morgan Stanley lifted their target price on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Macquarie raised their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

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 $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.