7,006 Shares in Visa Inc. $V Bought by Peak Financial Advisors LLC

Peak Financial Advisors LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,006 shares of the credit-card processor’s stock, valued at approximately $2,392,000. Visa comprises 1.1% of Peak Financial Advisors LLC’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. increased its holdings in shares of Visa by 1.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 2,245 shares of the credit-card processor’s stock worth $766,000 after buying an additional 36 shares during the last quarter. Asset Allocation Strategies LLC purchased a new position in Visa in the third quarter worth about $217,000. RDA Financial Network increased its stake in Visa by 10.6% during the third quarter. RDA Financial Network now owns 18,898 shares of the credit-card processor’s stock worth $6,451,000 after acquiring an additional 1,817 shares during the last quarter. Bennett Selby Investments LP lifted its stake in shares of Visa by 0.8% in the 3rd quarter. Bennett Selby Investments LP now owns 58,340 shares of the credit-card processor’s stock valued at $19,916,000 after purchasing an additional 461 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A boosted its holdings in shares of Visa by 19.8% in the 3rd quarter. OLD Point Trust & Financial Services N A now owns 7,272 shares of the credit-card processor’s stock worth $2,483,000 after purchasing an additional 1,200 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 1.0%

Shares of V opened at $349.45 on Friday. The firm has a market capitalization of $636.61 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 2.04 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50-day moving average of $337.48 and a 200 day moving average of $344.79.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted 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 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa has an average rating of “Buy” and an average target price of $402.52.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

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.