Visa Inc. $V Shares Purchased by Convergence Financial LLC

Convergence Financial LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,913 shares of the credit-card processor’s stock after buying an additional 221 shares during the quarter. Convergence Financial LLC’s holdings in Visa were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at $29,000. Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in shares of Visa in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,897 shares of company stock worth $8,164,561 in the last three months. 0.13% of the stock is owned by insiders.

Visa Price Performance

V opened at $336.63 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The firm has a market cap of $616.97 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $343.84 and a 200 day simple moving average of $348.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 EPS. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 23.11%.

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.