Centric Wealth Management increased its holdings in Visa Inc. (NYSE:V) by 0.5% in the first quarter, Holdings Channel reports. The fund owned 12,026 shares of the credit-card processor’s stock after purchasing an additional 60 shares during the quarter. Visa accounts for approximately 0.7% of Centric Wealth Management’s portfolio, making the stock its 27th largest position. Centric Wealth Management’s holdings in Visa were worth $2,546,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its holdings in shares of Visa by 43.1% in the 1st quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 1,610,000 shares of the credit-card processor’s stock valued at $340,885,000 after purchasing an additional 485,000 shares in the last quarter. JCIC Asset Management Inc. boosted its stake in shares of Visa by 3.4% during the first quarter. JCIC Asset Management Inc. now owns 32,670 shares of the credit-card processor’s stock valued at $6,917,000 after purchasing an additional 1,068 shares in the last quarter. Scharf Investments LLC increased its holdings in Visa by 74.4% during the first quarter. Scharf Investments LLC now owns 4,826 shares of the credit-card processor’s stock valued at $1,022,000 after buying an additional 2,059 shares during the period. Mountain Capital Investment Advisors Inc boosted its position in Visa by 2.4% during the 1st quarter. Mountain Capital Investment Advisors Inc now owns 12,668 shares of the credit-card processor’s stock valued at $2,800,000 after acquiring an additional 292 shares in the last quarter. Finally, BFT Financial Group LLC grew its stake in Visa by 71.5% in the first quarter. BFT Financial Group LLC now owns 3,937 shares of the credit-card processor’s stock valued at $834,000 after purchasing an additional 1,641 shares during the last quarter. Institutional investors own 80.50% of the company’s stock.
Shares of V traded up $4.36 during midday trading on Thursday, reaching $226.34. The company had a trading volume of 84,278 shares, compared to its average volume of 9,816,802. Visa Inc. has a 1-year low of $159.15 and a 1-year high of $228.23. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $216.58 and a 200-day simple moving average of $208.04. The stock has a market cap of $441.89 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, February 11th. Visa’s payout ratio is presently 25.40%.
In other Visa news, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the completion of the transaction, the president now owns 11,193 shares of the company’s stock, valued at $2,350,530. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rajat Taneja sold 31,750 shares of Visa stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $223.00, for a total transaction of $7,080,250.00. Following the sale, the insider now owns 282,606 shares of the company’s stock, valued at $63,021,138. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,093 shares of company stock worth $20,418,578. Corporate insiders own 0.19% of the company’s stock.
Several research firms have recently commented on V. Credit Suisse Group lifted their price objective on shares of Visa from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, January 29th. Jefferies Financial Group raised shares of Visa from a “hold” rating to a “buy” rating and increased their price target for the stock from $195.00 to $250.00 in a report on Wednesday, January 13th. Sanford C. Bernstein initiated coverage on Visa in a report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price target for the company. Robert W. Baird reissued a “buy” rating and issued a $256.00 price objective on shares of Visa in a report on Sunday. Finally, KeyCorp upped their target price on Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 13th. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $228.04.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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