TrinityPoint Wealth LLC Raises Stake in Visa Inc. (NYSE:V)

TrinityPoint Wealth LLC raised its position in shares of Visa Inc. (NYSE:V) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,761 shares of the credit-card processor’s stock after purchasing an additional 133 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Visa were worth $1,821,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in V. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $5,171,271,000. Vanguard Group Inc. raised its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC raised its position in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on V. JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group reduced their price target on shares of Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Barclays boosted their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Stock Up 0.8%

Shares of V opened at $365.23 on Friday. The firm has a market capitalization of $673.90 billion, a P/E ratio of 36.82, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $338.59 and a 200-day moving average price of $329.61.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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 business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.51 earnings per share. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction 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 121,948 shares of company stock valued at $41,548,282 over the last three months. 0.13% of the stock is owned by company insiders.

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.