Thrive Wealth Management LLC Boosts Stake in Visa Inc. (NYSE:V)

Thrive Wealth Management LLC raised its position in Visa Inc. (NYSE:V) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 9,779 shares of the credit-card processor’s stock after buying an additional 256 shares during the quarter. Visa comprises 0.6% of Thrive Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Thrive Wealth Management LLC’s holdings in Visa were worth $2,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Freedom LLC acquired a new stake in shares of Visa during the fourth quarter worth about $32,000. Ridgewood Investments LLC acquired a new stake in Visa during the 1st quarter worth approximately $35,000. Kalos Management Inc. purchased a new position in Visa in the 1st quarter valued at approximately $40,000. NewSquare Capital LLC grew its stake in shares of Visa by 121.9% in the first quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its stake in shares of Visa by 666.7% in the first quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 200 shares in the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 22,700 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,755,623.52. The disclosure for this sale can be found here. In the last three months, insiders sold 81,550 shares of company stock worth $19,795,806. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Credit Suisse Group upped their price target on Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. Truist Financial boosted their price target on shares of Visa from $270.00 to $275.00 in a report on Wednesday, July 26th. Royal Bank of Canada raised their price objective on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Barclays increased their target price on Visa from $272.00 to $287.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Finally, StockNews.com began coverage on Visa in a research report on Thursday, August 17th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.77.

Visa Stock Up 1.5 %

V stock opened at $244.64 on Tuesday. Visa Inc. has a one year low of $174.60 and a one year high of $250.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The company has a fifty day moving average of $241.67 and a 200-day moving average of $232.37. The stock has a market capitalization of $455.48 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. As a group, analysts expect that Visa Inc. will post 8.65 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 22.84%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.