Visa Inc. $V Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 884.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,140 shares of the credit-card processor’s stock after purchasing an additional 22,585 shares during the quarter. Visa accounts for approximately 0.5% of Provenance Wealth Advisors LLC’s holdings, making the stock its 27th biggest position. Provenance Wealth Advisors LLC’s holdings in Visa were worth $9,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of V. Beacon Capital Management LLC grew its position in Visa by 2.0% in the 3rd quarter. Beacon Capital Management LLC now owns 1,283 shares of the credit-card processor’s stock worth $461,000 after purchasing an additional 25 shares during the last quarter. Argyle Capital Partners LLC raised its position in shares of Visa by 0.7% during the third quarter. Argyle Capital Partners LLC now owns 3,912 shares of the credit-card processor’s stock valued at $1,406,000 after buying an additional 27 shares during the last quarter. Verus Financial Partners Inc. raised its position in shares of Visa by 3.7% during the third quarter. Verus Financial Partners Inc. now owns 752 shares of the credit-card processor’s stock valued at $270,000 after buying an additional 27 shares during the last quarter. Concorde Asset Management LLC lifted its stake in shares of Visa by 4.0% in the second quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor’s stock valued at $250,000 after buying an additional 28 shares during the period. Finally, Ellis Investment Partners LLC lifted its stake in shares of Visa by 2.1% in the third quarter. Ellis Investment Partners LLC now owns 1,363 shares of the credit-card processor’s stock valued at $490,000 after buying an additional 28 shares during the period. 82.15% of the stock is owned by institutional investors.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa raised its quarterly dividend to $0.78 per share, alongside reported double-digit year-over-year growth in quarterly revenue and profit. These developments support the view that its payments business is growing while returning cash to shareholders. Read article: Will Earnings Beat Change Visa Stock’s Narrative
• Positive Sentiment: Visa signed partnerships in Hong Kong and Senegal to advance AI-enabled commerce and digital payments, potentially expanding its reach in fintech and financial inclusion. Read article: Visa Signs Two New Deals To Push AI Commerce And Digital Payments
• Positive Sentiment: Bill Ackman praised Visa alongside Mastercard and Netflix, while Cantor Fitzgerald maintained an Overweight rating and raised its price target to $500. Zacks also upgraded Visa to a Buy rating, citing earnings prospects. Read article: Ackman Calls Stock Market Broken but Touts Visa Read article: Visa Stocks Rise With Higher Cantor Target
• Neutral Sentiment: Former CEO Joseph Saunders, who led Visa’s 2008 IPO, has died. The reports describe his legacy but provide no indication of an operational or financial impact on the company. Read article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: CEO Ryan McInerney sold 5,875 shares, reducing his position by about 28%. The sale was made under a pre-arranged Rule 10b5-1 plan, which moderates its significance as a signal about his outlook. Read SEC filing

Insider Buying and Selling

In other Visa news, General Counsel Julie Rottenberg sold 1,867 shares of Visa stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total transaction of $687,690.78. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,778,929.36. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total value of $2,445,292.50. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. This represents a 27.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,395 shares of company stock worth $10,406,050 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their target price on Visa from $420.00 to $438.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Clear Str raised Visa to a “strong-buy” rating in a report on Thursday, July 16th. Truist Financial set a $443.00 price objective on Visa and gave the stock a “buy” rating in a research report on Friday, October 23rd. Robert W. Baird lifted their price objective on Visa from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Monday, October 12th. Finally, Piper Sandler restated an “overweight” rating and set a $479.00 price objective (up from $430.00) on shares of Visa in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $440.03.

Visa Price Performance

NYSE:V opened at $420.27 on Wednesday. The company has a 50-day moving average of $383.16 and a 200-day moving average of $343.20. The company has a market capitalization of $749.95 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 1.81 and a beta of 0.80. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $426.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.97.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.98 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 15.03 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.78 per share. This is a positive change from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio is 21.74%.

About Visa

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.