Avidian Wealth Enterprises LLC Buys 316 Shares of Visa Inc. (NYSE:V)

Avidian Wealth Enterprises LLC raised its stake in Visa Inc. (NYSE:V) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,590 shares of the credit-card processor’s stock after acquiring an additional 316 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Visa were worth $2,362,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. KMG Fiduciary Partners LLC grew its holdings in shares of Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after buying an additional 37 shares in the last quarter. Tlwm increased its holdings in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares during the last quarter. Meridian Financial Partners LLC raised its position in shares of Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after buying an additional 38 shares in the last quarter. Finally, First National Corp MA ADV lifted its holdings in shares of Visa by 1.0% in the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after acquiring an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Citigroup upped their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Mizuho boosted their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Price Performance

Shares of V opened at $307.36 on Thursday. The stock has a market capitalization of $560.11 billion, a PE ratio of 31.59, a PEG ratio of 1.96 and a beta of 0.95. The company has a 50 day moving average price of $282.69 and a 200-day moving average price of $274.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $240.97 and a fifty-two week high of $309.00.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. Visa’s revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

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.