FORA Capital LLC Makes New $7.99 Million Investment in Visa Inc. (NYSE:V)

FORA Capital LLC bought a new stake in Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 29,049 shares of the credit-card processor’s stock, valued at approximately $7,987,000. Visa makes up 0.9% of FORA Capital LLC’s portfolio, making the stock its 21st biggest holding.

Other institutional investors have also recently made changes to their positions in the company. 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 raised its holdings 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 worth $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.6 %

Shares of V traded up $2.00 during trading hours on Wednesday, hitting $313.82. The stock had a trading volume of 965,056 shares, compared to its average volume of 6,965,965. The company’s fifty day simple moving average is $290.37 and its 200 day simple moving average is $277.80. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $314.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $584.61 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly 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 firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Barclays lifted their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup upped their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four 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 $321.74.

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.