Centricity Wealth Management LLC Buys Shares of 2,422 Visa Inc. (NYSE:V)

Centricity Wealth Management LLC bought a new position in Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel reports. The fund bought 2,422 shares of the credit-card processor’s stock, valued at approximately $765,000.

A number of other institutional investors and hedge funds have also modified their holdings of V. Peterson Financial Group Inc. purchased a new stake in Visa in the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. acquired a new position in shares of Visa in the fourth quarter worth $26,000. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth $31,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on V shares. The Goldman Sachs Group lifted their price target on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays lifted their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho upped their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Susquehanna lifted their target price on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Trading Down 0.6 %

V stock opened at $348.27 on Monday. The business’s 50 day moving average is $329.14 and its 200-day moving average is $302.66. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15. The firm has a market cap of $647.01 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio is 23.79%.

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.