Procyon Advisors LLC Boosts Stock Holdings in Visa Inc. (NYSE:V)

Procyon Advisors LLC raised its position in shares of Visa Inc. (NYSE:V) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,681 shares of the credit-card processor’s stock after purchasing an additional 2,943 shares during the period. Visa accounts for approximately 1.4% of Procyon Advisors LLC’s portfolio, making the stock its 15th largest holding. Procyon Advisors LLC’s holdings in Visa were worth $21,706,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Yarger Wealth Strategies LLC increased its stake in shares of Visa by 14.0% in the fourth quarter. Yarger Wealth Strategies LLC now owns 2,309 shares of the credit-card processor’s stock worth $730,000 after purchasing an additional 283 shares in the last quarter. Woodstock Corp lifted its stake in shares of Visa by 0.6% during the 4th quarter. Woodstock Corp now owns 36,844 shares of the credit-card processor’s stock valued at $11,644,000 after buying an additional 218 shares in the last quarter. Truefg LLC boosted its holdings in Visa by 6.8% in the 4th quarter. Truefg LLC now owns 3,076 shares of the credit-card processor’s stock worth $972,000 after buying an additional 195 shares during the period. Goldstone Financial Group LLC grew its stake in Visa by 10.6% in the 4th quarter. Goldstone Financial Group LLC now owns 1,355 shares of the credit-card processor’s stock valued at $428,000 after buying an additional 130 shares in the last quarter. Finally, Channel Wealth LLC raised its holdings in Visa by 2.2% during the 4th quarter. Channel Wealth LLC now owns 7,117 shares of the credit-card processor’s stock valued at $2,249,000 after acquiring an additional 155 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock opened at $319.97 on Friday. The stock has a market capitalization of $596.06 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The business’s 50 day simple moving average is $313.41 and its two-hundred day simple moving average is $288.45.

Visa (NYSE:V) last posted 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. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. Analysts forecast that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on V shares. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $331.92.

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.