Principle Wealth Partners LLC Acquires 187 Shares of Visa Inc. (NYSE:V)

Principle Wealth Partners LLC increased its position in Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,259 shares of the credit-card processor’s stock after purchasing an additional 187 shares during the quarter. Visa makes up about 0.9% of Principle Wealth Partners LLC’s portfolio, making the stock its 28th biggest position. Principle Wealth Partners LLC’s holdings in Visa were worth $9,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares in the last quarter. Northern Trust Corp boosted its position in Visa by 4.7% during the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after acquiring an additional 763,505 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Visa by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after acquiring an additional 374,489 shares in the last quarter. Jennison Associates LLC boosted its position in Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in Visa by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock valued at $1,734,835,000 after acquiring an additional 108,280 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho reiterated a “neutral” rating and set a $265.00 price objective on shares of Visa in a report on Wednesday, March 27th. Robert W. Baird raised their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Wedbush raised their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.58.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders sold a total of 19,874 shares of company stock worth $5,506,827 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

V traded down $0.64 during trading on Friday, reaching $274.52. The company’s stock had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $279.24 and a two-hundred day simple moving average of $264.52. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS. As a group, analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.