Congress Wealth Management LLC DE Boosts Stock Position in Visa Inc. (NYSE:V)

Congress Wealth Management LLC DE grew its position in shares of Visa Inc. (NYSE:V) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,950 shares of the credit-card processor’s stock after purchasing an additional 5,351 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Visa were worth $33,312,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in V. WealthPlan Investment Management LLC lifted its position in shares of Visa by 222.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 11,165 shares of the credit-card processor’s stock valued at $2,568,000 after acquiring an additional 7,699 shares during the period. Heritage Investment Group Inc. boosted its holdings in shares of Visa by 15.8% in the 3rd quarter. Heritage Investment Group Inc. now owns 1,134 shares of the credit-card processor’s stock valued at $261,000 after purchasing an additional 155 shares during the last quarter. Certuity LLC boosted its holdings in shares of Visa by 6.7% in the 3rd quarter. Certuity LLC now owns 9,467 shares of the credit-card processor’s stock valued at $2,177,000 after purchasing an additional 597 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of Visa by 23.9% during the 3rd quarter. MGO One Seven LLC now owns 37,943 shares of the credit-card processor’s stock valued at $8,727,000 after acquiring an additional 7,325 shares in the last quarter. Finally, Hartline Investment Corp lifted its holdings in shares of Visa by 10.7% during the 3rd quarter. Hartline Investment Corp now owns 24,247 shares of the credit-card processor’s stock valued at $5,577,000 after acquiring an additional 2,341 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Up 0.1 %

NYSE V traded up $0.26 during trading on Friday, reaching $274.49. 4,316,397 shares of the stock traded hands, compared to its average volume of 6,322,635. The firm has a market cap of $502.03 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The stock’s 50-day moving average price is $276.88 and its 200 day moving average price is $269.49. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Evercore ISI boosted their target price on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Susquehanna increased their price objective on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Oppenheimer increased their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $303.76.

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.