ProVise Management Group LLC Sells 4,375 Shares of Visa Inc. (NYSE:V)

ProVise Management Group LLC reduced its position in Visa Inc. (NYSE:V) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,637 shares of the credit-card processor’s stock after selling 4,375 shares during the quarter. Visa makes up 1.4% of ProVise Management Group LLC’s portfolio, making the stock its 20th largest holding. ProVise Management Group LLC’s holdings in Visa were worth $16,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Enhancing Capital LLC bought a new position in Visa in the fourth quarter worth $2,258,000. Xponance Inc. lifted its holdings in shares of Visa by 3.4% during the fourth quarter. Xponance Inc. now owns 421,245 shares of the credit-card processor’s stock valued at $133,130,000 after acquiring an additional 13,896 shares during the period. Generali Asset Management SPA SGR bought a new position in shares of Visa during the fourth quarter valued at $45,708,000. Evoke Wealth LLC lifted its holdings in shares of Visa by 6.2% during the fourth quarter. Evoke Wealth LLC now owns 14,101 shares of the credit-card processor’s stock valued at $4,457,000 after acquiring an additional 820 shares during the period. Finally, Horizon Investments LLC lifted its holdings in shares of Visa by 4.1% during the fourth quarter. Horizon Investments LLC now owns 22,979 shares of the credit-card processor’s stock valued at $7,262,000 after acquiring an additional 900 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V stock opened at $334.30 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $621.06 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The stock has a 50-day moving average of $338.84 and a 200-day moving average of $312.02. Visa Inc. has a one year low of $252.70 and a one year high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 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, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock valued at $35,165,827 in the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on V. StockNews.com cut Visa from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Raymond James reissued an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $353.96.

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.