Orleans Capital Management Corp LA Acquires New Shares in Visa Inc. $V

Orleans Capital Management Corp LA bought a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,620 shares of the credit-card processor’s stock, valued at approximately $575,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its position in Visa by 2.1% during the first quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,433 shares of the credit-card processor’s stock valued at $2,605,000 after purchasing an additional 150 shares during the last quarter. IFG Advisory LLC raised its stake in shares of Visa by 3.4% during the 1st quarter. IFG Advisory LLC now owns 4,679 shares of the credit-card processor’s stock worth $1,640,000 after purchasing an additional 156 shares in the last quarter. Finally, Fiduciary Wealth Partners LLC acquired a new stake in shares of Visa during the 1st quarter valued at about $85,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.3%

Shares of V opened at $334.67 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a market cap of $609.67 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average price of $339.68 and a two-hundred day moving average price of $347.21.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate 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. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Morgan Stanley set a $398.00 price target on shares of Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were 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 in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,042 shares of company stock worth $8,175,152 in the last ninety days. 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.