Prosperity Consulting Group LLC increased its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 27.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,051 shares of the credit-card processor shares’s stock after acquiring an additional 2,789 during the period. Visa accounts for about 2.1% of Prosperity Consulting Group LLC’s holdings, making the stock its 9th largest position. Prosperity Consulting Group LLC’s holdings in Visa were worth $2,894,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of V. Adams Chetwood Wealth Management LLC boosted its stake in Visa by 13.2% during the 1st quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor’s stock valued at $961,000 after purchasing an additional 507 shares during the period. Newman Dignan & Sheerar Inc. boosted its stake in Visa by 1.7% during the 1st quarter. Newman Dignan & Sheerar Inc. Now owns 6,088 shares of the credit-card processor’s stock valued at $1,350,000 after purchasing an additional 100 during the period. Mizuho Securities Co. Ltd. boosted its stake in Visa by 430.7% during the 1st quarter. Mizuho Securities Co. Ltd. Now owns 18,707 shares of the credit-card processor’s stock valued at $4,149,000 after purchasing an additional 15,182 shares during the period. Meadow Creek Wealth Advisors LLC boosted its stake in Visa by 19.0% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,498 shares of the credit-card processor’s stock valued at $998,000 after purchasing an additional 719 shares during the period. Finally, Northcape Wealth Management LLC boosted its stake in Visa by 3.1% during the 1st quarter. Northcape Wealth Management LLC now owns 14,310 shares of the credit-card processor’s stock valued at $3,174,000 after purchasing an additional 431 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.
NYSE V opened at $199.18 on Friday. The stock has a fifty day moving average of $203.19 and a 200-day moving average of $211.78. The stock has a market capitalization of $378.70 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.90. Visa Inc. has a 52 week low of $185.91 and a 52 week high of $252.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.
Visa (NYSE:V – Get Rating) last released its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period last year, the firm earned $1.38 EPS. Equities research analysts forecast that Visa Inc. will post 7.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, May 12th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.58%.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $210.38, for a total transaction of $1,893,420.00. Following the completion of the sale, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at $34,268,167.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 27,000 shares of company stock valued at $5,619,330. 0.21% of the stock is owned by insiders.
Several brokerages recently weighed in on V. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Thursday, April 28th. Evercore ISI raised their objective price on Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Citigroup reduced their price objective on Visa from $285.00 to $265.00 in a research report on Monday, April 25th. Morgan Stanley raised their objective price on Visa from $279.00 to $284.00 in a research report on Wednesday, April 27th. Finally, Credit Suisse Group raised their objective price on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $266.24.
About Visa (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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