Bay Harbor Wealth Management LLC Boosts Stake in Visa Inc. (NYSE:V)

Bay Harbor Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 49.7% in the 4th quarter, HoldingsChannel reports. The fund owned 509 shares of the credit-card processor’s stock after acquiring an additional 169 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Visa were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of V. Crescent Grove Advisors LLC raised its holdings in Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after acquiring an additional 31 shares during the last quarter. Phoenix Wealth Advisors increased its stake in Visa by 3.4% in the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after purchasing an additional 32 shares during the last quarter. Unionview LLC increased its stake in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. Forza Wealth Management LLC lifted its position in Visa by 2.9% during the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after buying an additional 33 shares during the period. Finally, Presilium Private Wealth LLC boosted its stake in Visa by 2.2% in the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.6 %

Shares of NYSE V opened at $347.28 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $351.25. The stock’s 50-day simple moving average is $319.76 and its 200-day simple moving average is $294.76. The firm has a market cap of $646.94 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.30 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio is presently 23.79%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,983 shares of company stock valued at $7,213,146 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

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.