Evergreen Wealth Management LLC Purchases 726 Shares of Visa Inc. (NYSE:V)

Evergreen Wealth Management LLC raised its position in shares of Visa Inc. (NYSE:V) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,541 shares of the credit-card processor’s stock after acquiring an additional 726 shares during the period. Visa makes up about 1.7% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Evergreen Wealth Management LLC’s holdings in Visa were worth $2,898,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. Arjuna Capital increased its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after acquiring an additional 96 shares in the last quarter. Custom Index Systems LLC purchased a new position in Visa in the 3rd quarter valued at $731,000. Mechanics Bank Trust Department increased its stake in shares of Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the last quarter. Finally, Chicago Capital LLC increased its position in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.5 %

Shares of Visa stock traded up $1.39 on Friday, reaching $309.64. 5,106,284 shares of the company were exchanged, compared to its average volume of 5,762,525. The stock has a fifty day moving average price of $287.04 and a 200-day moving average price of $275.90. The firm has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating 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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.