Visa Inc. $V Shares Acquired by Accuvest Global Advisors

Accuvest Global Advisors lifted its stake in shares of Visa Inc. (NYSE:V) by 229.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,667 shares of the credit-card processor’s stock after purchasing an additional 8,825 shares during the period. Visa comprises approximately 2.9% of Accuvest Global Advisors’ portfolio, making the stock its 10th largest holding. Accuvest Global Advisors’ holdings in Visa were worth $4,497,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Visa during the first quarter worth approximately $27,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its stake in Visa by 82.0% during the second 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 during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE V opened at $336.74 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $290.76 and a twelve month high of $375.51. The stock has a 50 day moving average of $344.54 and a two-hundred day moving average of $348.57. The stock has a market cap of $617.17 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the business earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. KeyCorp restated an “overweight” rating and set a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Barclays restated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Four equities 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’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.