Orleans Capital Management Corp LA Acquires New Shares in Visa Inc. $V

Orleans Capital Management Corp LA bought a new position in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,620 shares of the credit-card processor’s stock, valued at approximately $575,000.

Several other institutional investors and hedge funds also recently made changes to their positions in V. BankPlus Wealth Management LLC raised its holdings in shares of Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after purchasing an additional 29 shares during the period. Transcendent Capital Group LLC lifted its holdings in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Interchange Capital Partners LLC grew its position in Visa by 0.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after purchasing an additional 30 shares in the last quarter. Academy Capital Management increased its stake in Visa by 3.7% in the 1st quarter. Academy Capital Management now owns 860 shares of the credit-card processor’s stock valued at $301,000 after buying an additional 31 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID increased its stake in Visa by 12.0% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 289 shares of the credit-card processor’s stock valued at $101,000 after buying an additional 31 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on V. Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley set a $398.00 price target on shares of Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, UBS Group set a $425.00 target price on Visa and gave the stock a “buy” 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 issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

V opened at $334.67 on Friday. The company’s 50 day moving average is $339.68 and its 200 day moving average is $347.21. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a market cap of $609.67 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.98 and a beta of 0.87.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 EPS. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Insider Activity at Visa

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 over the last ninety days. 0.13% of the stock is owned by company insiders.

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.