Visa Inc. (NYSE:V) Position Boosted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 47.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,173 shares of the credit-card processor's stock after buying an additional 12,334 shares during the quarter. Miracle Mile Advisors LLC's holdings in Visa were worth $12,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new stake in Visa in the third quarter valued at approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $31,000. West Financial Advisors LLC lifted its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock worth $40,000 after purchasing an additional 73 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new position in shares of Visa during the second quarter worth $39,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.8 %

Shares of NYSE:V traded up $2.32 during trading on Tuesday, reaching $309.24. The stock had a trading volume of 5,107,561 shares, compared to its average volume of 5,958,574. 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 stock has a market cap of $576.08 billion, a P/E ratio of 31.78, a PEG ratio of 2.11 and a beta of 0.96. The business has a fifty day moving average price of $312.76 and a 200-day moving average price of $287.65. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating 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 firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The business's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa's payout ratio is currently 24.25%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on V. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Visa from $300.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a "neutral" rating in a report on Tuesday, September 17th. Wells Fargo & Company boosted their target price on Visa from $325.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, January 3rd. Finally, Morgan Stanley raised their price target on Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.92.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.