Janney Capital Management LLC Buys Shares of 44,300 Visa Inc. (NYSE:V)

Janney Capital Management LLC purchased a new position in Visa Inc. (NYSE:V) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,300 shares of the credit-card processor’s stock, valued at approximately $12,180,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank bought a new stake in shares of Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC purchased a new position in Visa in the 1st quarter worth about $404,000. Davidson Capital Management Inc. increased its stake in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the period. Empirical Finance LLC lifted its holdings in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital boosted its position in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the period. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on V. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho increased their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $320.70.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $290.74 on Friday. The company has a 50 day moving average price of $281.00 and a 200 day moving average price of $273.65. The firm has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $239.20 and a 52 week high of $296.34.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. Sell-side analysts expect that Visa Inc. will post 11.17 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 21.38%.

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.