Prosperity Financial Group Inc. Purchases 407 Shares of Visa Inc. (NYSE:V)

Prosperity Financial Group Inc. increased its position in shares of Visa Inc. (NYSE:V) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 5,289 shares of the credit-card processor’s stock after acquiring an additional 407 shares during the period. Prosperity Financial Group Inc.’s holdings in Visa were worth $1,672,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Swedbank AB increased its stake in Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC boosted its holdings in shares of Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after acquiring an additional 610 shares during the last quarter. Pettinga Financial Advisors LLC purchased a new stake in shares of Visa in the 3rd quarter valued at $228,000. Principal Financial Group Inc. boosted its holdings in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after acquiring an additional 411,210 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Visa by 2.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 25,141 shares of the credit-card processor’s stock valued at $6,913,000 after acquiring an additional 677 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $331.93 on Wednesday. The firm has a 50-day simple moving average of $337.01 and a 200-day simple moving average of $309.89. The stock has a market capitalization of $616.65 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. UBS Group upped their price objective on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,505 shares of company stock worth $22,290,507. Insiders own 0.13% 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.