Prio Wealth Limited Partnership Has $50.19 Million Stock Position in Visa Inc. (NYSE:V)

Prio Wealth Limited Partnership increased its position in shares of Visa Inc. (NYSE:V) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 192,791 shares of the credit-card processor’s stock after purchasing an additional 2,682 shares during the period. Visa makes up approximately 1.7% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 15th biggest holding. Prio Wealth Limited Partnership’s holdings in Visa were worth $50,193,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hibernia Wealth Partners LLC bought a new stake in Visa during the 3rd quarter worth about $25,000. Altshuler Shaham Ltd bought a new stake in Visa during the 3rd quarter worth about $25,000. West Tower Group LLC bought a new stake in Visa during the 2nd quarter worth about $30,000. Financial Freedom LLC bought a new stake in Visa during the 4th quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC grew its holdings in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Wedbush increased their price objective on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. KeyCorp increased their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Barclays raised their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Susquehanna raised their target price on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.82.

Visa Stock Performance

Shares of NYSE:V opened at $278.55 on Wednesday. The company has a market capitalization of $511.56 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 1.92 and a beta of 0.96. The firm’s 50 day simple moving average is $279.62 and its 200 day simple moving average is $259.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping the consensus estimate of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.94%.

Insider Activity

In other Visa news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders have sold 55,511 shares of company stock worth $15,131,081 over the last ninety days. Insiders own 0.19% 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.