Visa Inc. (NYSE:V) Stake Cut by Thrive Wealth Management LLC

Thrive Wealth Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,425 shares of the credit-card processor’s stock after selling 219 shares during the period. Visa comprises about 0.6% of Thrive Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Thrive Wealth Management LLC’s holdings in Visa were worth $3,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of V. Evergreen Capital Management LLC boosted its stake in Visa by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 21,714 shares of the credit-card processor’s stock valued at $5,699,000 after purchasing an additional 582 shares during the period. Farallon Capital Management LLC boosted its position in shares of Visa by 20.7% during the second quarter. Farallon Capital Management LLC now owns 821,886 shares of the credit-card processor’s stock worth $215,720,000 after buying an additional 141,036 shares during the period. Tremblant Capital Group grew its holdings in Visa by 41.8% in the 2nd quarter. Tremblant Capital Group now owns 6,542 shares of the credit-card processor’s stock worth $1,717,000 after buying an additional 1,930 shares in the last quarter. Samlyn Capital LLC acquired a new stake in Visa in the 2nd quarter valued at approximately $25,413,000. Finally, Marshall Wace LLP raised its stake in Visa by 927.4% during the 2nd quarter. Marshall Wace LLP now owns 890,739 shares of the credit-card processor’s stock valued at $233,792,000 after acquiring an additional 804,039 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Citigroup increased their price target on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer raised their target price on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Susquehanna raised their price objective on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research note on Wednesday, December 11th. Finally, Keefe, Bruyette & Woods upped their target price on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Stock Performance

V stock opened at $323.76 on Wednesday. The firm has a 50 day simple moving average of $313.59 and a 200 day simple moving average of $289.09. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $324.58. The stock has a market cap of $603.12 billion, a P/E ratio of 33.27, a P/E/G ratio of 2.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa 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.