CJM Wealth Advisers Ltd. Buys 166 Shares of Visa Inc. (NYSE:V)

CJM Wealth Advisers Ltd. raised its stake in Visa Inc. (NYSE:V) by 4.5% in the third quarter, Holdings Channel reports. The firm owned 3,851 shares of the credit-card processor’s stock after acquiring an additional 166 shares during the quarter. Visa comprises approximately 0.4% of CJM Wealth Advisers Ltd.’s investment portfolio, making the stock its 24th biggest position. CJM Wealth Advisers Ltd.’s holdings in Visa were worth $1,059,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth approximately $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC boosted 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 purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Finally, Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V opened at $276.86 on Friday. The stock has a market cap of $506.36 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a 50 day moving average of $272.63 and a 200 day moving average of $273.12. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is 23.24%.

About Visa

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.