Centric Wealth Management trimmed its position in Visa Inc. (NYSE:V - Free Report) by 37.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,863 shares of the credit-card processor's stock after selling 7,050 shares during the quarter. Visa accounts for 1.0% of Centric Wealth Management's holdings, making the stock its 20th largest holding. Centric Wealth Management's holdings in Visa were worth $3,749,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in Visa by 81.0% in the fourth quarter. Headlands Technologies LLC now owns 5,156 shares of the credit-card processor's stock worth $1,630,000 after buying an additional 2,307 shares in the last quarter. Invenio Wealth Partners LLC grew its stake in Visa by 2.6% in the fourth quarter. Invenio Wealth Partners LLC now owns 2,614 shares of the credit-card processor's stock valued at $826,000 after purchasing an additional 66 shares during the last quarter. Geode Capital Management LLC raised its holdings in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Nemes Rush Group LLC raised its holdings in Visa by 9.0% in the fourth quarter. Nemes Rush Group LLC now owns 35,606 shares of the credit-card processor's stock worth $11,253,000 after purchasing an additional 2,942 shares in the last quarter. Finally, StoneX Group Inc. purchased a new stake in shares of Visa during the fourth quarter valued at about $7,688,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Visa Stock Performance
NYSE V traded down $6.81 during mid-day trading on Thursday, reaching $339.52. 6,561,010 shares of the stock were exchanged, compared to its average volume of 7,156,470. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50 day moving average is $345.14 and its 200-day moving average is $316.58. The company has a market capitalization of $630.76 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.33 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating 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 forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio (DPR) is presently 23.79%.
Analyst Upgrades and Downgrades
V has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Wells Fargo & Company upped their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $355.84.
Read Our Latest Stock Analysis on Visa
Insider Transactions at Visa
In related news, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated 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 owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,585 shares of company stock valued at $45,821,697 in the last three months. 0.13% of the stock is currently owned by company insiders.
Visa Profile
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Free Report)
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.
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