Prestige Wealth Management Group LLC Acquires 206 Shares of Visa Inc. (NYSE:V)

Prestige Wealth Management Group LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 10,159 shares of the credit-card processor’s stock after purchasing an additional 206 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Visa were worth $3,211,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Howard Capital Management Group LLC raised its stake in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after buying an additional 610 shares during the period. Principal Financial Group Inc. raised its position in shares of Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after purchasing an additional 411,210 shares during the period. Algert Global LLC bought a new position in shares of Visa in the 3rd quarter worth $1,778,000. Fisher Asset Management LLC grew its position in Visa by 2.1% in the 3rd quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock valued at $2,635,317,000 after purchasing an additional 196,891 shares during the period. Finally, Prosperity Financial Group Inc. increased its stake in Visa by 5.2% during the 3rd quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock valued at $1,342,000 after purchasing an additional 242 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 2.5 %

V opened at $343.96 on Tuesday. The company has a 50 day moving average of $341.23 and a 200 day moving average of $313.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a market cap of $639.00 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $8,991,249.33. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on V. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday. The Goldman Sachs Group boosted their price objective on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays raised their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $353.96.

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.