Centricity Wealth Management LLC Takes $765,000 Position in Visa Inc. (NYSE:V)

Centricity Wealth Management LLC bought a new position in Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,422 shares of the credit-card processor’s stock, valued at approximately $765,000.

Several other large investors have also made changes to their positions in V. State Street Corp boosted its position in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC lifted its stake in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Visa in the third quarter valued at about $268,640,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Visa during the 3rd quarter valued at about $227,342,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.6 %

NYSE:V opened at $348.27 on Monday. The firm has a market capitalization of $647.01 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. 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 stock has a 50 day moving average of $329.14 and a 200-day moving average of $302.66.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on V. UBS Group upped their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Bank of America raised their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Buying and Selling at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock valued at $19,161,447 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.