Portside Wealth Group LLC Has $11.23 Million Stock Position in Visa Inc. (NYSE:V)

Portside Wealth Group LLC reduced its position in Visa Inc. (NYSE:V) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,547 shares of the credit-card processor’s stock after selling 322 shares during the period. Visa accounts for about 1.9% of Portside Wealth Group LLC’s investment portfolio, making the stock its 5th biggest position. Portside Wealth Group LLC’s holdings in Visa were worth $11,234,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Unionview LLC lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. Forza Wealth Management LLC lifted its stake in shares of Visa by 2.9% during the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 33 shares during the last quarter. Presilium Private Wealth LLC boosted its stake in shares of Visa by 2.2% during the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after purchasing an additional 33 shares during the period. FWG Holdings LLC boosted its position in Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the period. Finally, St. Louis Trust Co raised its position in Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on V shares. Jefferies Financial Group boosted their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Stock Performance

V opened at $319.97 on Tuesday. The firm’s fifty day simple moving average is $313.41 and its two-hundred day simple moving average is $288.73. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61. The company has a market cap of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted 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 company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. Visa’s revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.74%. 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 Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.