Icon Wealth Advisors LLC Buys 165,575 Shares of Visa Inc. (NYSE:V)

Icon Wealth Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 526.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,055 shares of the credit-card processor’s stock after purchasing an additional 165,575 shares during the quarter. Visa accounts for approximately 2.0% of Icon Wealth Advisors LLC’s holdings, making the stock its 7th biggest position. Icon Wealth Advisors LLC’s holdings in Visa were worth $54,180,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa during the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.9 %

Shares of V stock opened at $310.23 on Friday. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $289.07 and a 200-day moving average of $277.08. The company has a market capitalization of $565.32 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business 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 earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, 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 SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on V. Bank of America upped their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Citigroup upped their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.