Proficio Capital Partners LLC Has $6.34 Million Holdings in Visa Inc. (NYSE:V)

Proficio Capital Partners LLC trimmed its stake in Visa Inc. (NYSE:V) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,069 shares of the credit-card processor’s stock after selling 3,427 shares during the period. Proficio Capital Partners LLC’s holdings in Visa were worth $6,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp lifted its stake in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after buying an additional 16,078 shares during the period. Empowered Funds LLC lifted its stake in Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after buying an additional 8,086 shares during the period. Primoris Wealth Advisors LLC lifted its stake in Visa by 2.2% in the first quarter. Primoris Wealth Advisors LLC now owns 2,598 shares of the credit-card processor’s stock valued at $723,000 after buying an additional 55 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its stake in Visa by 4.0% in the first quarter. TCI Wealth Advisors Inc. now owns 5,312 shares of the credit-card processor’s stock valued at $1,482,000 after buying an additional 205 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Up 0.7 %

Shares of NYSE:V opened at $307.87 on Friday. The company has a market capitalization of $561.03 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The business has a fifty day moving average price of $283.95 and a two-hundred day moving average price of $274.67. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $311.15.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% 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.