Moran Wealth Management LLC Has $19.33 Million Holdings in Visa Inc. $V

Moran Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 7.2% during the third quarter, Holdings Channel reports. The fund owned 56,615 shares of the credit-card processor’s stock after purchasing an additional 3,788 shares during the period. Moran Wealth Management LLC’s holdings in Visa were worth $19,327,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC increased its position in Visa by 1.8% in the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after purchasing an additional 21,401 shares during the period. Precedent Wealth Partners LLC lifted its position in Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after purchasing an additional 111 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its position in Visa by 5.9% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the period. Consilium Wealth Advisory LLC bought a new position in shares of Visa in the 2nd quarter valued at about $862,000. Finally, NatWest Group plc grew its position in shares of Visa by 43.8% during the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after buying an additional 13,912 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

V opened at $349.75 on Friday. The firm’s fifty day moving average is $340.09 and its two-hundred day moving average is $344.19. The firm has a market cap of $637.15 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the firm’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 sale, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock valued at $8,247,289 over the last 90 days. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on V shares. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and boosted their price target for the stock from $335.00 to $389.00 in a research note on Sunday, December 7th. UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Evercore ISI set a $380.00 price objective on Visa in a research note on Friday, December 12th. Five analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $402.52.

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.