McAlister Sweet & Associates Inc. Has $2.63 Million Position in Visa Inc. (NYSE:V)

McAlister Sweet & Associates Inc. boosted its position in Visa Inc. (NYSE:V) by 824.4% in the second quarter, Holdings Channel.com reports. The firm owned 11,093 shares of the credit-card processor’s stock after purchasing an additional 9,893 shares during the quarter. Visa comprises 2.3% of McAlister Sweet & Associates Inc.’s portfolio, making the stock its 13th biggest holding. McAlister Sweet & Associates Inc.’s holdings in Visa were worth $2,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Keudell Morrison Wealth Management increased its position in shares of Visa by 0.4% during the first quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock valued at $2,652,000 after acquiring an additional 43 shares during the last quarter. Successful Portfolios LLC increased its position in shares of Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock valued at $278,000 after acquiring an additional 43 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after acquiring an additional 45 shares during the last quarter. Seascape Capital Management increased its position in shares of Visa by 0.3% during the first quarter. Seascape Capital Management now owns 16,038 shares of the credit-card processor’s stock valued at $3,616,000 after acquiring an additional 48 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its position in shares of Visa by 1.4% during the first quarter. Pure Financial Advisors LLC now owns 3,581 shares of the credit-card processor’s stock valued at $807,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 24,025 shares of Visa stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Visa news, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $552,000.00. Following the sale, the insider now owns 232,112 shares in the company, valued at approximately $55,706,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,750 shares of company stock valued at $15,845,648. Company insiders own 0.22% of the company’s stock.

Visa Price Performance

NYSE:V opened at $241.50 on Friday. The firm has a market capitalization of $449.63 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.86 and a beta of 0.95. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $250.06. The stock has a fifty day moving average of $241.52 and a 200 day moving average of $231.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $1.98 earnings per share. On average, research analysts expect that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is 22.84%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on V shares. Royal Bank of Canada raised their target price on Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Wells Fargo & Company raised their target price on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Barclays raised their target price on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Wedbush reissued an “outperform” rating and issued a $270.00 target price on shares of Visa in a research report on Thursday, August 31st. Finally, Bank of America raised their target price on Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.77.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.