NovaPoint Capital LLC Makes New $502,000 Investment in Visa Inc. $V

NovaPoint Capital LLC bought a new stake in shares of Visa Inc. (NYSE:V) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,470 shares of the credit-card processor’s stock, valued at approximately $502,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa in the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. purchased a new position in Visa in the second quarter valued at approximately $31,000. Cranbrook Wealth Management LLC grew its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Bare Financial Services Inc increased its position in Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V stock opened at $354.62 on Tuesday. The firm has a 50 day moving average of $338.81 and a 200-day moving average of $343.81. The firm has a market capitalization of $646.03 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. 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 (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The business 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 business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Evercore ISI set a $380.00 price objective on shares of Visa in a report on Friday, December 12th. Macquarie reduced their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Hsbc Global Res raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $402.52.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of the business’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 completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,042 shares of company stock worth $8,175,152 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Visa Profile

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.