Sequoia Financial Advisors LLC Acquires 11,334 Shares of Visa Inc. $V

Sequoia Financial Advisors LLC lifted its stake in Visa Inc. (NYSE:V) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,510 shares of the credit-card processor’s stock after acquiring an additional 11,334 shares during the period. Sequoia Financial Advisors LLC’s holdings in Visa were worth $82,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter worth about $28,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. Westend Capital Management LLC grew its stake in Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in Visa during the 1st quarter worth approximately $38,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on V shares. Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday, October 29th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Transactions at Visa

In other 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 of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

V opened at $329.89 on Friday. The stock has a 50-day moving average price of $342.16 and a 200-day moving average price of $348.69. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $604.63 billion, a P/E ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Visa 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.