Procyon Private Wealth Partners LLC Raises Position in Visa Inc. (NYSE:V)

Procyon Private Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 1.0% during the third quarter, HoldingsChannel reports. The firm owned 7,000 shares of the credit-card processor’s stock after purchasing an additional 68 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Visa were worth $1,559,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Genesee Capital Advisors LLC purchased a new position in shares of Visa during the 3rd quarter worth $2,308,000. Schneider Downs Wealth Management Advisors LP lifted its stake in shares of Visa by 35.6% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 3,987 shares of the credit-card processor’s stock worth $888,000 after purchasing an additional 1,046 shares during the period. Aprio Wealth Management LLC lifted its stake in shares of Visa by 8.5% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,526 shares of the credit-card processor’s stock worth $340,000 after purchasing an additional 119 shares during the period. Capital Asset Advisory Services LLC lifted its stake in shares of Visa by 3.7% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 11,988 shares of the credit-card processor’s stock worth $2,670,000 after purchasing an additional 428 shares during the period. Finally, Columbia Trust Co 01012016 lifted its stake in shares of Visa by 3.7% during the 3rd quarter. Columbia Trust Co 01012016 now owns 7,063 shares of the credit-card processor’s stock worth $1,574,000 after purchasing an additional 249 shares during the period. 80.54% of the stock is currently owned by institutional investors.

V has been the topic of several research reports. Wells Fargo & Company increased their target price on Visa from $265.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Wedbush increased their target price on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Mizuho cut their target price on Visa from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, November 1st. JPMorgan Chase & Co. increased their target price on Visa from $267.00 to $277.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. Finally, UBS Group initiated coverage on Visa in a research report on Thursday, November 18th. They issued a “buy” rating and a $275.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $270.11.

Shares of Visa stock opened at $203.25 on Thursday. The business has a 50-day moving average of $219.79 and a 200-day moving average of $228.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.75 and a quick ratio of 2.00. The company has a market capitalization of $395.92 billion, a PE ratio of 36.10, a P/E/G ratio of 1.88 and a beta of 0.92. Visa Inc. has a 1-year low of $192.81 and a 1-year high of $252.67.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 EPS for the quarter, topping the consensus estimate of $1.53 by $0.09. Visa had a net margin of 51.07% and a return on equity of 37.62%. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 7.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Friday, November 12th will be given a dividend of $0.375 per share. This is a boost from Visa’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 26.64%.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Thursday, September 30th. The shares were sold at an average price of $227.58, for a total value of $2,048,220.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the completion of the transaction, the president now directly owns 11,193 shares in the company, valued at approximately $2,564,316.30. The disclosure for this sale can be found here. Insiders have sold 51,580 shares of company stock worth $11,376,866 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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