Smith Salley Wealth Management Has $40.33 Million Stock Position in Visa Inc. $V

Smith Salley Wealth Management boosted its stake in shares of Visa Inc. (NYSE:V) by 2.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 118,149 shares of the credit-card processor’s stock after purchasing an additional 3,096 shares during the period. Visa accounts for about 2.1% of Smith Salley Wealth Management’s holdings, making the stock its 10th largest position. Smith Salley Wealth Management’s holdings in Visa were worth $40,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new position in Visa during the second quarter worth $29,000. Sagard Holdings Management Inc. bought a new position in Visa during the second quarter valued at $31,000. Cranbrook Wealth Management LLC raised its stake 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 valued at $32,000 after acquiring an additional 41 shares during the period. Finally, Bare Financial Services Inc raised its stake in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Evercore ISI set a $380.00 price target on shares of Visa in a report on Friday, December 12th. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Macquarie reduced their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Finally, HSBC raised Visa from a “hold” rating to a “buy” rating and upped their price objective for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,557 shares of company stock valued at $4,586,137 over the last three months. 0.12% of the stock is owned by company insiders.

Visa Stock Down 0.7%

Shares of NYSE:V opened at $350.99 on Friday. The business’s 50 day moving average is $339.16 and its 200 day moving average is $343.92. The stock has a market cap of $639.41 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. 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 issued its earnings results 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. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company posted $2.71 EPS. Visa’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 26.25%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.