Thrive Wealth Management LLC boosted its position in Visa Inc. (NYSE:V – Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,779 shares of the credit-card processor’s stock after purchasing an additional 256 shares during the period. Visa accounts for about 0.6% of Thrive Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Thrive Wealth Management LLC’s holdings in Visa were worth $2,322,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Selective Wealth Management Inc. acquired a new position in Visa in the 2nd quarter valued at approximately $2,937,000. Rempart Asset Management Inc. raised its position in Visa by 0.9% during the 2nd quarter. Rempart Asset Management Inc. now owns 88,673 shares of the credit-card processor’s stock worth $21,058,000 after purchasing an additional 766 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in Visa by 1.0% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 328,155 shares of the credit-card processor’s stock worth $77,930,000 after buying an additional 3,298 shares during the period. Norway Savings Bank grew its position in shares of Visa by 5.0% in the 2nd quarter. Norway Savings Bank now owns 3,246 shares of the credit-card processor’s stock valued at $771,000 after buying an additional 155 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Visa by 4.6% in the second quarter. Capital Investment Advisors LLC now owns 24,036 shares of the credit-card processor’s stock valued at $5,708,000 after buying an additional 1,049 shares during the period. 81.35% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
V has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Susquehanna increased their price objective on shares of Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Visa in a report on Thursday, August 31st. StockNews.com started coverage on Visa in a report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Raymond James boosted their price objective on Visa from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $273.77.
Visa Price Performance
V opened at $244.64 on Tuesday. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s fifty day moving average price is $241.67 and its two-hundred day moving average price is $232.37. The company has a market capitalization of $455.48 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 EPS. As a group, analysts anticipate that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio is presently 22.84%.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 24,025 shares of the business’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 $5,766,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Rajat Taneja sold 22,700 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,550 shares of company stock valued at $19,795,806. Corporate insiders own 0.21% of the company’s stock.
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.
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