Centric Wealth Management Grows Holdings in Visa Inc. (NYSE:V)

Centric Wealth Management lifted its position in Visa Inc. (NYSE:V) by 0.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,913 shares of the credit-card processor’s stock after purchasing an additional 75 shares during the period. Visa accounts for about 1.3% of Centric Wealth Management’s investment portfolio, making the stock its 12th biggest position. Centric Wealth Management’s holdings in Visa were worth $5,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arjuna Capital boosted its holdings in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC acquired a new stake in Visa in the third quarter worth about $731,000. Mechanics Bank Trust Department grew its stake in shares of Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the last quarter. Chicago Capital LLC raised its position in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in Visa during the 3rd quarter worth about $7,987,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $314.70 on Friday. The stock has a market capitalization of $586.25 billion, a P/E ratio of 32.34, a PEG ratio of 2.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $316.37. The company has a 50 day moving average price of $291.48 and a 200 day moving average price of $278.31.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.33 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on V. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Susquehanna lifted their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Macquarie increased their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

About Visa

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.