Blodgett Wealth Advisors LLC Has $872,000 Holdings in Visa Inc. (NYSE:V)

Blodgett Wealth Advisors LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 12.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,760 shares of the credit-card processor’s stock after selling 405 shares during the quarter. Visa accounts for 0.7% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Blodgett Wealth Advisors LLC’s holdings in Visa were worth $872,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Crescent Grove Advisors LLC boosted its stake in shares of Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after acquiring an additional 31 shares during the period. Phoenix Wealth Advisors lifted its holdings in Visa by 3.4% in the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after purchasing an additional 32 shares in the last quarter. Unionview LLC boosted its stake in Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. Forza Wealth Management LLC boosted its stake in Visa by 2.9% in the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after purchasing an additional 33 shares during the period. Finally, Presilium Private Wealth LLC grew its holdings in Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after buying an additional 33 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup increased their price objective on shares of Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Mizuho boosted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Visa Stock Performance

V stock opened at $347.28 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $351.25. The firm has a market cap of $646.94 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.30 and a beta of 0.97. The business’s fifty day simple moving average is $319.76 and its two-hundred day simple moving average is $294.76. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts predict that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,983 shares of company stock valued at $7,213,146 over the last quarter. 0.13% of the stock is owned by corporate insiders.

About Visa

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.