Prosperity Financial Group Inc. Has $1.67 Million Stake in Visa Inc. (NYSE:V)

Prosperity Financial Group Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,289 shares of the credit-card processor’s stock after buying an additional 407 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Visa were worth $1,672,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Peterson Financial Group Inc. bought a new position in Visa in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new stake in Visa during the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the 4th quarter worth about $27,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at about $32,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 2.8 %

Shares of V stock opened at $331.93 on Wednesday. The company has a market capitalization of $616.65 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company’s fifty day moving average price is $337.01 and its 200-day moving average price is $309.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

V has been the topic of a number of research reports. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America boosted their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Susquehanna upped their price target on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s 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 sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,505 shares of company stock valued at $22,290,507. Company insiders own 0.13% of the company’s stock.

About Visa

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.