Progressive Investment Management Corp Has $13.94 Million Position in Visa Inc. (NYSE:V)

Progressive Investment Management Corp lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,099 shares of the credit-card processor’s stock after selling 1,014 shares during the quarter. Visa comprises 3.6% of Progressive Investment Management Corp’s portfolio, making the stock its 10th biggest holding. Progressive Investment Management Corp’s holdings in Visa were worth $13,937,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in Visa by 17.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 104,065 shares of the credit-card processor’s stock valued at $32,889,000 after acquiring an additional 15,356 shares in the last quarter. RiverFront Investment Group LLC boosted its holdings in shares of Visa by 19.8% during the 4th quarter. RiverFront Investment Group LLC now owns 32,371 shares of the credit-card processor’s stock valued at $10,231,000 after purchasing an additional 5,343 shares during the last quarter. Horizon Investment Services LLC grew its position in shares of Visa by 4.5% during the fourth quarter. Horizon Investment Services LLC now owns 15,841 shares of the credit-card processor’s stock valued at $5,007,000 after purchasing an additional 682 shares in the last quarter. Level Four Advisory Services LLC increased its holdings in shares of Visa by 2.2% in the fourth quarter. Level Four Advisory Services LLC now owns 41,521 shares of the credit-card processor’s stock worth $13,123,000 after purchasing an additional 898 shares during the last quarter. Finally, Vertex Planning Partners LLC purchased a new stake in shares of Visa in the fourth quarter worth about $252,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,560,961 over the last three months. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Morgan Stanley raised their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Raymond James reaffirmed an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $355.84.

Visa Price Performance

Shares of V stock opened at $342.62 on Friday. The company has a market capitalization of $636.51 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. The company’s 50-day simple moving average is $343.60 and its two-hundred day simple moving average is $315.06. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s payout ratio is currently 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.