Visa Inc. (NYSE:V) Shares Purchased by Centric Wealth Management

Centric Wealth Management boosted its position in Visa Inc. (NYSE:V) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,270 shares of the credit-card processor’s stock after purchasing an additional 774 shares during the quarter. Visa comprises approximately 1.5% of Centric Wealth Management’s investment portfolio, making the stock its 10th largest position. Centric Wealth Management’s holdings in Visa were worth $4,908,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. increased its stake in shares of Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares during the last quarter. Towerpoint Wealth LLC acquired a new stake in shares of Visa in the 4th quarter worth $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Visa in the 4th quarter worth $3,427,000. Richelieu Gestion SA acquired a new stake in shares of Visa in the 4th quarter worth $307,000. Finally, Cooper Financial Group increased its stake in shares of Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after acquiring an additional 476 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Citigroup increased their price target on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wedbush increased their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target for the company. Finally, Royal Bank of Canada increased their price target on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $303.56.

Visa Stock Up 0.5 %

Shares of V traded up $1.37 during midday trading on Friday, hitting $270.36. The company had a trading volume of 7,986,435 shares, compared to its average volume of 9,135,279. The company’s 50-day simple moving average is $273.24 and its 200-day simple moving average is $273.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $494.47 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.84 and a beta of 0.95. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. As a group, sell-side analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.