Broadway Wealth Solutions Inc. Takes Position in Visa Inc. (NYSE:V)

Broadway Wealth Solutions Inc. acquired a new position in Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,325 shares of the credit-card processor's stock, valued at approximately $419,000.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Visa in the fourth quarter valued at $5,171,271,000. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Visa during the 4th quarter worth $1,955,403,000. Proficio Capital Partners LLC boosted its holdings 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. Finally, State Street Corp boosted its stake 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 purchasing an additional 3,327,977 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on V. Bank of America increased their target price on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Raymond James reaffirmed an "outperform" rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $355.84.

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Visa Stock Performance

Shares of V traded up $1.88 during mid-day trading on Monday, hitting $344.73. 2,931,134 shares of the company's stock were exchanged, compared to its average volume of 7,124,819. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $640.44 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The stock's 50-day simple moving average is $343.60 and its 200-day simple moving average is $315.49. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio is currently 23.79%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,205 shares of company stock valued at $48,560,961. Company 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.