7,520 Shares in Visa Inc. (NYSE:V) Acquired by Altman Advisors Inc.

Altman Advisors Inc. purchased a new stake in Visa Inc. (NYSE:V - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,520 shares of the credit-card processor's stock, valued at approximately $2,068,000.

A number of other large investors also recently made changes to their positions in the stock. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at approximately $26,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock valued at $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Visa during the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor's stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in Visa in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

V has been the topic of several analyst reports. Barclays upped their target price on shares of Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a "buy" rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Finally, William Blair raised shares of Visa to a "strong-buy" rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $321.74.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

Visa Trading Down 1.4 %

Shares of NYSE V traded down $4.46 during midday trading on Wednesday, hitting $307.39. The stock had a trading volume of 6,287,345 shares, compared to its average volume of 6,971,641. The company has a market capitalization of $560.16 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $250.03 and a 1-year high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $288.10 and a 200 day moving average price of $276.63.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 EPS. On average, analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is currently 24.25%.

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.