Visa Inc. (NYSE:V) Shares Sold by Centric Wealth Management

Centric Wealth Management lessened its stake in Visa Inc. (NYSE:V) by 37.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,863 shares of the credit-card processor’s stock after selling 7,050 shares during the quarter. Visa accounts for 1.0% of Centric Wealth Management’s portfolio, making the stock its 20th largest position. Centric Wealth Management’s holdings in Visa were worth $3,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in V. Norges Bank purchased a new position in Visa during the 4th quarter valued at about $5,171,271,000. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC increased its stake in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. Finally, State Street Corp grew its holdings in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on V. Susquehanna reiterated a “positive” rating on shares of Visa in a report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group lifted their price target on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,560,961 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Visa Stock Up 2.3 %

NYSE:V opened at $350.68 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day simple moving average of $344.22 and a 200 day simple moving average of $315.95. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a market capitalization of $651.48 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Visa Company 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.