Mayflower Financial Advisors LLC Boosts Stock Position in Visa Inc. $V

Mayflower Financial Advisors LLC increased its position in shares of Visa Inc. (NYSE:V) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,671 shares of the credit-card processor’s stock after acquiring an additional 573 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Visa were worth $4,499,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter valued at about $27,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the 2nd quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC increased its position 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 purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V stock opened at $341.07 on Friday. The firm has a market cap of $625.11 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.06 and a beta of 0.90. The stock’s 50 day simple moving average is $344.78 and its 200 day simple moving average is $348.31. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $287.19 and a 12-month high of $375.51.

Visa (NYSE:V) last released its quarterly 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 company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.