Visa Inc. (NYSE:V) Shares Acquired by ProVise Management Group LLC

ProVise Management Group LLC boosted its position in shares of Visa Inc. (NYSE:VFree Report) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,535 shares of the credit-card processor’s stock after purchasing an additional 930 shares during the period. Visa accounts for 1.1% of ProVise Management Group LLC’s investment portfolio, making the stock its 25th biggest holding. ProVise Management Group LLC’s holdings in Visa were worth $11,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Moneta Group Investment Advisors LLC grew its holdings in shares of Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after acquiring an additional 24,483,134 shares in the last quarter. Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at $3,067,232,000. Morgan Stanley grew its holdings in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares in the last quarter. Capital World Investors grew its holdings in shares of Visa by 50.8% during the 2nd quarter. Capital World Investors now owns 16,012,583 shares of the credit-card processor’s stock valued at $3,802,668,000 after acquiring an additional 5,391,512 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in shares of Visa by 1,634.8% during the 2nd quarter. Cibc World Markets Corp now owns 3,938,026 shares of the credit-card processor’s stock valued at $935,202,000 after acquiring an additional 3,711,026 shares in the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Visa in a research note on Thursday, October 12th. Jefferies Financial Group lifted their price objective on shares of Visa from $280.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. reduced their price objective on shares of Visa from $296.00 to $293.00 and set an “overweight” rating for the company in a research note on Monday, October 9th. Finally, Monness Crespi & Hardt started coverage on shares of Visa in a research report on Wednesday, December 20th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.55.

Check Out Our Latest Research Report on V

Visa Trading Down 0.3 %

Shares of NYSE V traded down $0.86 during midday trading on Tuesday, reaching $274.72. 777,072 shares of the stock were exchanged, compared to its average volume of 5,507,049. The business has a 50-day simple moving average of $262.82 and a two-hundred day simple moving average of $248.35. The company has a market capitalization of $504.53 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.91 and a beta of 0.97. Visa Inc. has a 12 month low of $208.76 and a 12 month high of $279.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is currently 23.94%.

Insider Buying and Selling at Visa

In other Visa news, insider Rajat Taneja sold 7,811 shares of Visa stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $253.17, for a total value of $1,977,510.87. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $58,763,795.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Rajat Taneja sold 7,811 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $253.17, for a total transaction of $1,977,510.87. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $58,763,795.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $255.79, for a total transaction of $2,084,688.50. Following the transaction, the chief executive officer now owns 29,152 shares in the company, valued at $7,456,790.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,857 shares of company stock worth $24,966,149. Insiders own 0.19% of the company’s stock.

Visa Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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