Reynders McVeigh Capital Management LLC Buys 92 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Reynders McVeigh Capital Management LLC increased its stake in Visa Inc. (NYSE:V – Free Report) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,820 shares of the credit-card processor’s stock after buying an additional 92 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Visa were worth $4,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. purchased a new position in shares of Visa during the third quarter valued at $26,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at about $31,000. TruNorth Capital Management LLC grew its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa in the second quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on V. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Jefferies Financial Group raised their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Susquehanna raised their price target on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

View Our Latest Stock Report on V

Visa Price Performance

Shares of NYSE:V opened at $313.00 on Wednesday. The business’s 50 day simple moving average is $293.45 and its 200-day simple moving average is $279.04. The firm has a market capitalization of $583.08 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 12 month low of $252.14 and a 12 month high of $317.42.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the company earned $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Visa Profile

(Free Report)

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.

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