Provence Wealth Management Group Buys 697 Shares of Visa Inc. (NYSE:V)

Provence Wealth Management Group boosted its stake in Visa Inc. (NYSE:V) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,350 shares of the credit-card processor’s stock after purchasing an additional 697 shares during the quarter. Provence Wealth Management Group’s holdings in Visa were worth $1,393,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Visa in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in Visa during the fourth quarter worth approximately $32,000. Valued Wealth Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Visa by 66.2% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock worth $61,000 after purchasing an additional 94 shares during the period. Finally, Life Planning Partners Inc purchased a new stake in Visa during the 4th quarter valued at $71,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,724 shares of company stock worth $3,278,698. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Mizuho upped their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI raised their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada increased their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.00.

Visa Stock Up 0.3 %

Shares of V traded up $0.88 during midday trading on Friday, hitting $268.49. 3,862,018 shares of the company’s stock traded hands, compared to its average volume of 6,930,902. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The firm’s fifty day moving average is $278.17 and its 200-day moving average is $265.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $493.08 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the business earned $2.09 EPS. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.