Procyon Advisors LLC Acquires 2,943 Shares of Visa Inc. (NYSE:V)

Procyon Advisors LLC lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,681 shares of the credit-card processor's stock after buying an additional 2,943 shares during the period. Visa comprises approximately 1.4% of Procyon Advisors LLC's portfolio, making the stock its 15th biggest position. Procyon Advisors LLC's holdings in Visa were worth $21,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of V. Custom Index Systems LLC acquired a new position in Visa in the third quarter worth approximately $731,000. Copley Financial Group Inc. bought a new stake in Visa in the third quarter worth approximately $616,000. FORA Capital LLC acquired a new position in shares of Visa during the 3rd quarter worth $7,987,000. Chicago Capital LLC raised its holdings in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor's stock valued at $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC lifted its stake in shares of Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor's stock valued at $15,499,000 after purchasing an additional 55,273 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Mizuho increased their target price on shares of Visa from $279.00 to $292.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Susquehanna boosted their price target on shares of Visa from $339.00 to $375.00 and gave the company a "positive" rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. BMO Capital Markets increased their price target on shares of Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.92.

Visa Trading Up 0.9 %

Shares of NYSE V traded up $2.72 during mid-day trading on Friday, hitting $319.97. The company's stock had a trading volume of 5,746,152 shares, compared to its average volume of 5,703,089. The company's fifty day simple moving average is $313.41 and its 200-day simple moving average is $288.59. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The stock has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.06 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 (NYSE:V - Get Free Report) last issued 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 net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.22 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. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Tuesday, November 12th. Visa's payout ratio is presently 24.25%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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. 0.13% of the stock is currently owned by company insiders.

Visa Company 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.