ProVise Management Group LLC Has $14.24 Million Position in Visa Inc. (NYSE:V)

ProVise Management Group LLC raised its stake in Visa Inc. (NYSE:V) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,248 shares of the credit-card processor’s stock after purchasing an additional 1,397 shares during the period. Visa accounts for approximately 1.2% of ProVise Management Group LLC’s investment portfolio, making the stock its 26th biggest position. ProVise Management Group LLC’s holdings in Visa were worth $14,239,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of V. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on V shares. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Finally, Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Performance

Shares of V stock opened at $288.46 on Thursday. The company has a market cap of $525.66 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $269.81 and a 200-day moving average of $273.38.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the business earned $2.16 EPS. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.