Moran Wealth Management LLC Has $19.33 Million Stock Position in Visa Inc. $V

Moran Wealth Management LLC boosted its position in Visa Inc. (NYSE:V) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,615 shares of the credit-card processor’s stock after buying an additional 3,788 shares during the quarter. Moran Wealth Management LLC’s holdings in Visa were worth $19,327,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new stake in Visa in the 2nd quarter valued at approximately $29,000. Sagard Holdings Management Inc. bought a new position in Visa in the 2nd quarter worth approximately $31,000. Cranbrook Wealth Management LLC lifted its holdings in shares of 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 buying an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc lifted its holdings in shares of Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

Shares of V stock opened at $349.75 on Friday. The firm has a fifty day moving average of $340.09 and a 200-day moving average of $344.19. The stock has a market cap of $637.15 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.07 and a beta of 0.81. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last posted its earnings results 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 net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 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 1st. Stockholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is currently 26.25%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,042 shares of company stock valued at $8,247,289. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on V shares. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. HSBC upgraded shares of Visa from a “hold” rating to a “buy” rating and raised their price target for the stock from $335.00 to $389.00 in a research report on Sunday, December 7th. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Finally, Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research report on Thursday, December 11th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $402.52.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.