Today, Independence Advisors LLC Increases Position in Visa Inc. (V)

Today, Independence Advisors LLC Increases Position in Visa Inc. (V)

Independence Advisors LLC boosted its position in shares of Visa Inc. (NYSE:V) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 3,693 shares of the credit-card processor’s stock after buying an additional 6 shares during the period. Independence Advisors LLC’s holdings in Visa were worth $305,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in V. Toth Financial Advisory Corp raised its position in shares of Visa by 313.7% in the second quarter. Toth Financial Advisory Corp now owns 16,737 shares of the credit-card processor’s stock worth $1,241,000 after buying an additional 12,691 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt raised its stake in Visa by 5.1% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,145,000 shares of the credit-card processor’s stock valued at $307,476,000 after buying an additional 200,000 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in Visa by 2.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 200,927 shares of the credit-card processor’s stock valued at $14,903,000 after buying an additional 5,129 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in Visa by 10.1% in the second quarter. Integrated Investment Consultants LLC now owns 2,941 shares of the credit-card processor’s stock valued at $218,000 after buying an additional 269 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division raised its stake in Visa by 2.5% in the second quarter. First Financial Bank N.A. Trust Division now owns 64,744 shares of the credit-card processor’s stock valued at $4,802,000 after buying an additional 1,578 shares during the last quarter. 79.94% of the stock is owned by institutional investors.

Visa Inc. (NYSE:V) traded up 0.70% during midday trading on Friday, reaching $80.13. The company’s stock had a trading volume of 6,495,826 shares. The company’s 50-day moving average is $81.58 and its 200 day moving average is $80.00. Visa Inc. has a 52 week low of $66.12 and a 52 week high of $83.96. The firm has a market capitalization of $187.50 billion, a P/E ratio of 31.66 and a beta of 1.00.

Visa (NYSE:V) last posted its earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Visa had a net margin of 39.72% and a return on equity of 24.31%. The firm earned $4.26 billion during the quarter. During the same quarter last year, the company posted $0.62 EPS. Visa’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that Visa Inc. will post $3.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be given a $0.165 dividend. This is a boost from Visa’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.66 annualized dividend and a yield of 0.82%. Visa’s dividend payout ratio is 26.72%.

Several research firms have recently issued reports on V. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $84.90 price objective for the company in a research note on Tuesday, November 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $94.00 price objective on shares of Visa in a research note on Friday, August 5th. Robert W. Baird raised their price objective on Visa from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, September 6th. Drexel Hamilton raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, October 24th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Visa in a research note on Tuesday, November 15th. Seven investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $90.84.

In other Visa news, insider Charles W. Scharf sold 772,912 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $82.65, for a total value of $63,881,176.80. Following the completion of the transaction, the insider now owns 852,880 shares in the company, valued at approximately $70,490,532. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Ryan Mcinerney sold 18,500 shares of the company’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the completion of the transaction, the president now owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.

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