Red Door Wealth Management LLC Buys 2,347 Shares of Visa Inc. (NYSE:V)

Red Door Wealth Management LLC lifted its position in Visa Inc. (NYSE:V) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 35,743 shares of the credit-card processor’s stock after purchasing an additional 2,347 shares during the quarter. Visa accounts for approximately 1.7% of Red Door Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Red Door Wealth Management LLC’s holdings in Visa were worth $11,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in V. Scientech Research LLC raised its holdings in shares of Visa by 35.5% in the second quarter. Scientech Research LLC now owns 4,907 shares of the credit-card processor’s stock valued at $1,288,000 after buying an additional 1,285 shares during the last quarter. Susquehanna International Group Ltd. bought a new position in shares of Visa in the second quarter worth about $241,000. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Visa by 28.4% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,814 shares of the credit-card processor’s stock worth $739,000 after purchasing an additional 623 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of Visa by 7.5% during the second quarter. Kathmere Capital Management LLC now owns 10,337 shares of the credit-card processor’s stock valued at $2,713,000 after purchasing an additional 719 shares during the last quarter. Finally, Brick & Kyle Associates increased its holdings in shares of Visa by 5.2% in the second quarter. Brick & Kyle Associates now owns 19,030 shares of the credit-card processor’s stock valued at $4,995,000 after purchasing an additional 935 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $330.20 on Friday. The company has a market cap of $615.11 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $314.95 and its 200 day simple moving average is $290.42. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $331.09.

Visa (NYSE:V) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup increased their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley lifted their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given 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 $334.58.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% 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.