ProVise Management Group LLC Has $16.65 Million Position in Visa Inc. $V

ProVise Management Group LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,882 shares of the credit-card processor’s stock after selling 1,548 shares during the period. Visa accounts for 1.3% of ProVise Management Group LLC’s portfolio, making the stock its 22nd largest holding. ProVise Management Group LLC’s holdings in Visa were worth $16,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new position in Visa in the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the second quarter valued at about $29,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new position in shares of Visa in the second quarter worth about $36,000. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,897 shares of company stock valued at $8,164,561. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on shares of Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Down 1.8%

V opened at $329.89 on Friday. The company has a market capitalization of $604.63 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $342.16 and its two-hundred day moving average price is $348.64. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

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

Visa Increases Dividend

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

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.