C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires 113 Shares of Visa Inc. (NYSE:V)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Visa Inc. (NYSE:V) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,521 shares of the credit-card processor’s stock after buying an additional 113 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Visa were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. von Borstel & Associates Inc. acquired a new position in Visa in the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the 4th quarter valued at $47,000. Navigoe LLC bought a new stake in shares of Visa during the 4th quarter valued at $53,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Visa during the 1st quarter valued at $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. Finally, Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Five investment 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. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $380.84.

Visa Price Performance

Visa stock opened at $335.94 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $615.70 billion, a PE ratio of 32.81, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a 12 month low of $258.74 and a 12 month high of $375.51. The stock has a 50-day moving average price of $352.21 and a two-hundred day moving average price of $347.30.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,100 shares of company stock valued at $27,643,224. Insiders own 0.13% of the company’s stock.

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.