Noesis Capital Mangement Corp Buys 2,358 Shares of Visa Inc. $V

Noesis Capital Mangement Corp increased its stake in Visa Inc. (NYSE:V) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,701 shares of the credit-card processor’s stock after acquiring an additional 2,358 shares during the period. Visa makes up 3.4% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 8th largest position. Noesis Capital Mangement Corp’s holdings in Visa were worth $19,777,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after buying an additional 57,800 shares during the period. Precedent Wealth Partners LLC raised its holdings in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the period. Consilium Wealth Advisory LLC purchased a new position in Visa in the second quarter valued at approximately $862,000. Iron Gate Global Advisors LLC raised its holdings in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after buying an additional 3,484 shares during the period. Finally, NatWest Group plc raised its holdings in Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after buying an additional 13,912 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. 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. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, KeyCorp reiterated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Visa Stock Down 1.1%

V stock opened at $341.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $287.19 and a 1-year high of $375.51. The firm has a fifty day moving average price of $344.78 and a two-hundred day moving average price of $348.31. The firm has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared 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 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 of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is presently 23.11%.

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.