Evergreen Wealth Management LLC Has $2.90 Million Stock Holdings in Visa Inc. (NYSE:V)

Evergreen Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 7.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,541 shares of the credit-card processor’s stock after acquiring an additional 726 shares during the quarter. Visa makes up approximately 1.7% of Evergreen Wealth Management LLC’s portfolio, making the stock its 21st largest position. Evergreen Wealth Management LLC’s holdings in Visa were worth $2,898,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. WFA Asset Management Corp raised its holdings in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after acquiring an additional 16,078 shares in the last quarter. Empowered Funds LLC raised its holdings in Visa by 16.0% in the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after acquiring an additional 8,086 shares in the last quarter. Blue Barn Wealth LLC raised its holdings in Visa by 22.2% in the 1st quarter. Blue Barn Wealth LLC now owns 2,773 shares of the credit-card processor’s stock valued at $774,000 after acquiring an additional 503 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in Visa in the 1st quarter valued at approximately $2,499,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several analyst reports. Citigroup upped their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four equities research 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 stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Up 0.5 %

Visa stock traded up $1.39 during mid-day trading on Friday, hitting $309.64. 5,106,284 shares of the company’s stock were exchanged, compared to its average volume of 5,762,525. The firm has a market capitalization of $564.26 billion, a P/E ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50 day simple moving average is $287.04 and its 200-day simple moving average is $275.90.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.19 earnings per share 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 paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Company 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.