Prio Wealth Limited Partnership Sells 16,932 Shares of Visa Inc. (NYSE:V)

Prio Wealth Limited Partnership trimmed its stake in Visa Inc. (NYSE:V) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,331 shares of the credit-card processor’s stock after selling 16,932 shares during the period. Visa makes up approximately 1.5% of Prio Wealth Limited Partnership’s portfolio, making the stock its 15th biggest holding. Prio Wealth Limited Partnership’s holdings in Visa were worth $51,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jessup Wealth Management Inc boosted its position in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the period. Cordatus Wealth Management LLC boosted its stake in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. Garden State Investment Advisory Services LLC raised its stake in Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the period. Tlwm lifted its holdings in Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Visa Stock Performance

V stock opened at $277.62 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $507.75 billion, a P/E ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.96. The business has a 50-day moving average price of $271.71 and a 200 day moving average price of $273.07. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share 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 during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. Visa’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

Several analysts have commented on the stock. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday. They issued an “outperform” rating and a $318.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.93.

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.