Centric Wealth Management Has $3.35 Million Stake in Visa Inc. $V

Centric Wealth Management reduced its position in shares of Visa Inc. (NYSE:V) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,955 shares of the credit-card processor’s stock after selling 677 shares during the period. Centric Wealth Management’s holdings in Visa were worth $3,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC grew its position in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Northern Trust Corp increased its stake in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after buying an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after buying an additional 145,665 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Finally, Macquarie dropped their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.13% of the stock is owned by insiders.

Visa Trading Up 1.4%

Shares of Visa stock opened at $328.24 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a market capitalization of $597.97 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 1.94 and a beta of 0.87. The business has a fifty day simple moving average of $340.46 and a two-hundred day simple moving average of $347.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 earnings per share. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is presently 26.25%.

Visa 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.