Thrive Wealth Management LLC Lowers Stock Position in Visa Inc. (NYSE:V)

Thrive Wealth Management LLC trimmed its stake in Visa Inc. (NYSE:V) by 13.6% during the first quarter, Holdings Channel.com reports. The fund owned 9,009 shares of the credit-card processor’s stock after selling 1,416 shares during the period. Visa accounts for about 0.6% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. Thrive Wealth Management LLC’s holdings in Visa were worth $3,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hirtle Callaghan & Co LLC raised its holdings in shares of Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC boosted its holdings in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after purchasing an additional 29 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares in the last quarter. Warther Private Wealth LLC increased its position in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after buying an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. raised its holdings in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.6%

Shares of NYSE V opened at $368.04 on Thursday. The business has a fifty day moving average of $344.66 and a two-hundred day moving average of $334.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.75. The stock has a market cap of $679.09 billion, a PE ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is presently 23.72%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,948 shares of company stock worth $41,546,299. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on V shares. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and set a $425.00 target price for the company in a research report on Thursday. Truist Financial started coverage on Visa in a report on Monday. They set a “buy” rating and a $400.00 price target on the stock. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Five 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

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.