Morton Capital Management LLC CA Boosts Stock Holdings in Visa Inc. (NYSE:V)

Morton Capital Management LLC CA grew its holdings in Visa Inc. (NYSE:V) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,665 shares of the credit-card processor’s stock after purchasing an additional 542 shares during the period. Morton Capital Management LLC CA’s holdings in Visa were worth $1,008,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Sanders Morris Harris LLC raised its stake in Visa by 4.0% during the 3rd quarter. Sanders Morris Harris LLC now owns 9,586 shares of the credit-card processor’s stock valued at $2,636,000 after purchasing an additional 368 shares during the period. Patten Group Inc. raised its position in shares of Visa by 1.7% during the third quarter. Patten Group Inc. now owns 42,037 shares of the credit-card processor’s stock valued at $11,558,000 after buying an additional 713 shares during the last quarter. Adirondack Trust Co. lifted its holdings in shares of Visa by 1.2% in the third quarter. Adirondack Trust Co. now owns 5,007 shares of the credit-card processor’s stock worth $1,377,000 after buying an additional 58 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Visa by 34.1% during the third quarter. Wedmont Private Capital now owns 22,217 shares of the credit-card processor’s stock worth $6,083,000 after acquiring an additional 5,645 shares during the last quarter. Finally, Marcum Wealth LLC grew its stake in Visa by 3.5% during the third quarter. Marcum Wealth LLC now owns 10,458 shares of the credit-card processor’s stock valued at $2,875,000 after acquiring an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Oppenheimer assumed coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target for the company. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Stock Performance

V opened at $275.57 on Thursday. The firm has a fifty day moving average price of $273.71 and a 200 day moving average price of $272.71. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market cap of $504.00 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last released its quarterly earnings results 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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly 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 EPS. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

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.