New World Advisors LLC Has $1.22 Million Holdings in Visa Inc. $V

New World Advisors LLC trimmed its holdings in Visa Inc. (NYSE:V) by 8.3% in the 2nd quarter, Holdings Channel reports. The fund owned 3,441 shares of the credit-card processor’s stock after selling 313 shares during the quarter. Visa comprises 0.3% of New World Advisors LLC’s portfolio, making the stock its 15th biggest holding. New World Advisors LLC’s holdings in Visa were worth $1,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa in the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Visa during the second quarter valued at approximately $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.4%

Shares of NYSE V opened at $328.24 on Friday. 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 $340.46 and a two-hundred day moving average of $347.92. The company has a market cap of $597.97 billion, a PE ratio of 32.15, a P/E/G ratio of 1.92 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm 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%. Visa’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. As a group, equities analysts expect that Visa Inc. will post 11.3 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 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on V shares. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Morgan Stanley set a $398.00 target price on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were 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. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction 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 directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.13% of the company’s stock.

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.