Genovese Burford & Brothers Wealth & Retirement Plan Management LLC Makes New Investment in Visa Inc (NYSE:V)

Genovese Burford & Brothers Wealth & Retirement Plan Management LLC acquired a new position in Visa Inc (NYSE:V) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,204 shares of the credit-card processor’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Berkeley Capital Partners LLC increased its stake in Visa by 1.5% in the 2nd quarter. Berkeley Capital Partners LLC now owns 3,939 shares of the credit-card processor’s stock worth $684,000 after purchasing an additional 57 shares during the period. Enterprise Financial Services Corp increased its stake in shares of Visa by 0.8% during the second quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock valued at $1,328,000 after buying an additional 59 shares during the period. Radnor Capital Management LLC increased its stake in shares of Visa by 0.8% during the second quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock valued at $1,399,000 after buying an additional 60 shares during the period. Peninsula Wealth LLC increased its stake in shares of Visa by 0.8% during the second quarter. Peninsula Wealth LLC now owns 7,608 shares of the credit-card processor’s stock valued at $1,319,000 after buying an additional 61 shares during the period. Finally, Atlantic Union Bankshares Corp increased its stake in shares of Visa by 0.7% during the third quarter. Atlantic Union Bankshares Corp now owns 8,932 shares of the credit-card processor’s stock valued at $1,536,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 80.98% of the company’s stock.

In related news, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William M. Sheedy sold 21,164 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total value of $3,782,218.44. Following the completion of the sale, the executive vice president now directly owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,215 shares of company stock valued at $9,564,487. 0.17% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the company. Nomura boosted their target price on Visa from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group lifted their price target on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. ValuEngine lowered Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays lifted their price target on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their price target on Visa from $231.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $199.04.

V traded up $0.54 during midday trading on Friday, reaching $178.97. The company had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05. The business has a 50-day moving average of $176.22 and a two-hundred day moving average of $173.43. The company has a market cap of $349.90 billion, a P/E ratio of 32.90, a P/E/G ratio of 1.83 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter last year, the business posted $1.21 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. On average, equities research analysts predict that Visa Inc will post 6.21 EPS for the current year.

The company also recently declared a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s payout ratio is presently 18.38%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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