ProVise Management Group LLC Has $16 Million Stock Position in Visa Inc. (NYSE:V)

ProVise Management Group LLC lowered its position in shares of Visa Inc. (NYSE:V) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 50,637 shares of the credit-card processor’s stock after selling 4,375 shares during the period. Visa makes up 1.4% of ProVise Management Group LLC’s portfolio, making the stock its 20th largest position. ProVise Management Group LLC’s holdings in Visa were worth $16,003,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of 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 last quarter. FMR LLC boosted its holdings in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock valued at $3,868,646,000 after buying an additional 718,558 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after buying an additional 123,927 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Bank of America increased their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group lifted their price objective on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Down 0.1 %

Shares of V stock opened at $334.30 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market cap of $621.06 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The stock has a 50 day simple moving average of $338.84 and a 200 day simple moving average of $312.02. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Insiders Place Their Bets

In other news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,855 shares of company stock worth $35,165,827 over the last three months. Insiders own 0.13% 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.