Financial Life Planners Grows Stake in Visa Inc. $V

Financial Life Planners boosted its position in shares of Visa Inc. (NYSE:V) by 395.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,427 shares of the credit-card processor’s stock after purchasing an additional 1,139 shares during the quarter. Visa makes up 0.4% of Financial Life Planners’ portfolio, making the stock its 28th biggest holding. Financial Life Planners’ holdings in Visa were worth $507,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter worth $28,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa in the second quarter worth $29,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new stake in shares of Visa in the second quarter valued at $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V opened at $329.89 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a 50 day moving average of $342.16 and a two-hundred day moving average of $348.64. The company has a market cap of $604.63 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The firm 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 was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Morgan Stanley set a $398.00 price objective on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the 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 completion of the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock worth $8,164,561 in the last 90 days. 0.13% of the stock is owned by corporate 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.