Prestige Wealth Management Group LLC Has $3.21 Million Holdings in Visa Inc. (NYSE:V)

Prestige Wealth Management Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,159 shares of the credit-card processor’s stock after purchasing an additional 206 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Visa were worth $3,211,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in V. Vanguard Group Inc. boosted its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Visa during the fourth quarter worth $1,955,403,000. Proficio Capital Partners LLC lifted 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 acquiring an additional 3,926,049 shares during the last quarter. State Street Corp grew its position 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 acquiring an additional 3,327,977 shares during the period. Finally, FMR LLC increased its stake in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 2.5 %

Shares of Visa stock opened at $343.96 on Tuesday. The firm has a market capitalization of $639.00 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. 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 firm’s 50 day moving average is $341.23 and its 200 day moving average is $313.75. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings results 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 net margin of 54.27% and a return on equity of 54.79%. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock worth $48,560,961 in the last quarter. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on V shares. Raymond James reiterated an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company increased their price target on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

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.