Prosperity Consulting Group LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Prosperity Consulting Group LLC lowered its stake in Visa Inc. (NYSE:V) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,231 shares of the credit-card processor’s stock after selling 699 shares during the quarter. Visa comprises approximately 0.8% of Prosperity Consulting Group LLC’s holdings, making the stock its 27th largest holding. Prosperity Consulting Group LLC’s holdings in Visa were worth $10,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of V. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. bought a new position in Visa in the 4th quarter worth about $47,000. Navigoe LLC bought a new position in Visa in the 4th quarter worth about $53,000. O Brien Wealth Partners LLC bought a new position in Visa in the 1st quarter worth about $54,000. Finally, Hurley Capital LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 0.8%

Shares of Visa stock opened at $356.93 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average price of $356.30 and a 200 day moving average price of $345.45. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The stock has a market cap of $658.60 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

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, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is 23.72%.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Evercore ISI assumed coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price for the company. Finally, Barclays reissued an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

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.