Prosperity Consulting Group LLC Lowers Stake in Visa Inc. (NYSE:V)

Prosperity Consulting Group LLC trimmed its holdings in Visa Inc. (NYSE:V) by 4.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,599 shares of the credit-card processor’s stock after selling 679 shares during the period. Prosperity Consulting Group LLC’s holdings in Visa were worth $3,569,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in V. Brio Consultants LLC increased its stake in shares of Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after acquiring an additional 437 shares during the period. Gilbert & Cook Inc. boosted its holdings in Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares in the last quarter. Aveo Capital Partners LLC grew its position in Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after buying an additional 235 shares during the period. 9258 Wealth Management LLC increased its holdings in Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after buying an additional 1,387 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its position in shares of Visa by 53.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after acquiring an additional 4,774 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Up 0.7 %

Shares of V stock opened at $287.36 on Friday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s fifty day moving average is $268.29 and its 200-day moving average is $273.31. The stock has a market cap of $523.66 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Morgan Stanley decreased their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group lowered their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $309.81.

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.