Miracle Mile Advisors LLC Purchases 1,052 Shares of Visa Inc. (NYSE:V)

Miracle Mile Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,839 shares of the credit-card processor’s stock after acquiring an additional 1,052 shares during the period. Miracle Mile Advisors LLC’s holdings in Visa were worth $7,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Jessup Wealth Management Inc increased its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC boosted its position in Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after acquiring an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares in the last quarter. Tlwm boosted its position in Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after acquiring an additional 38 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its position in Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V traded down $2.63 on Monday, reaching $275.30. 1,457,227 shares of the company’s stock traded hands, compared to its average volume of 7,172,027. The firm has a market cap of $503.51 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 1.92 and a beta of 0.96. The stock has a 50 day moving average price of $273.00 and a 200-day moving average price of $272.86. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $312.04.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

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.