Prosperity Consulting Group LLC increased its stake in Visa Inc. (NYSE: V – Get Rating) shares by 27.2% during the first quarter, according to the company in its latest SEC filing. The fund held 13,051 shares of the credit card processor after acquiring 2,789 additional shares during the period. Visa accounts for approximately 2.1% of Prosperity Consulting Group LLC’s holdings, making it its 9th largest position. Prosperity Consulting Group LLC’s holdings in Visa were worth $2,894,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors have also recently changed their holdings in V. Adams Chetwood Wealth Management LLC increased 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 valued at $961,000 after purchasing an additional 507 shares during the period. Newman Dignan & Sheerar Inc. increased its stake in Visa by 1.7% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit card processor valued at $1,350,000 after buying an additional 100 shares during the period. Mizuho Securities Co.Ltd. increased its stake in Visa by 430.7% in the 1st quarter. Mizuho Securities Co.Ltd. now owns 18,707 shares of the credit card processor valued at $4,149,000 after purchasing an additional 15,182 shares during the period. Meadow Creek Wealth Advisors LLC increased its stake in Visa by 19.0% in Q1. Meadow Creek Wealth Advisors LLC now owns 4,498 shares of the credit card processor valued at $998,000 after buying 719 additional shares during the period. Finally, Northcape Wealth Management LLC increased its stake in Visa by 3.1% in the 1st quarter. Northcape Wealth Management LLC now owns 14,310 shares of the credit card processor valued at $3,174,000 after buying 431 additional shares during the period. 80.77% of the shares are currently held 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 growth price/earnings ratio of 1.75 and a beta of 0.90. Visa Inc. has a 52-week minimum of $185.91 and a 52-week maximum of $252.67. The company has a debt 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 results on Tuesday, April 26. The credit card processor reported EPS of $1.79 for the quarter, beating the consensus estimate of $1.65 by $0.14. The company posted revenue of $7.19 billion in the quarter, versus $6.82 billion expected by analysts. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company’s revenue for the quarter increased 25.5% year over year. During the same period last year, the company achieved EPS of $1.38. Equity research analysts expect Visa Inc. to post earnings per share of 7.16 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Investors of record on Friday, May 13 received a dividend of $0.375 per share. The ex-dividend date was Thursday, May 12. This represents a dividend of $1.50 on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.58%.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 Visa shares in a trade on Tuesday, May 31. 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 CEO now directly owns 162,887 shares of the company, valued at $34,268,167.06. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In the past ninety days, insiders have sold 27,000 shares of the company valued at $5,619,330. 0.21% of the shares are held by insiders.
Several brokerages have weighed in on V recently. StockNews.com downgraded Visa from a “hold” rating to a “buy” rating in a Thursday, April 28 research note. Evercore ISI raised its price target on Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a Wednesday, April 27 research report. Citigroup reduced its price target on Visa from $285.00 to $265.00 in a Monday, April 25 research report. Morgan Stanley raised its price target on Visa from $279.00 to $284.00 in a Wednesday, April 27 research report. Finally, Credit Suisse Group raised its price target on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a Wednesday, April 27 research report. Five equity research analysts gave the stock a hold rating and twenty-one gave the stock a buy rating. 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 an evaluation)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
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