Provident Wealth Management LLC Invests $200,000 in Visa Inc. (NYSE:V)

Provident Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 634 shares of the credit-card processor’s stock, valued at approximately $200,000.

Other institutional investors also recently bought and sold shares of the company. Elevation Wealth Partners LLC boosted its holdings in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC lifted its position in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after buying an additional 30 shares in the last quarter. Valmark Advisers Inc. lifted its position in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after buying an additional 30 shares in the last quarter. Crescent Grove Advisors LLC grew its holdings in Visa by 2.2% in the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after buying an additional 31 shares in the last quarter. Finally, Vicus Capital increased its stake in shares of Visa by 3.1% in the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after acquiring an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Up 1.4 %

Shares of NYSE:V opened at $355.56 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $360.31. The company’s 50 day moving average is $332.12 and its two-hundred day moving average is $304.62. The company has a market cap of $660.55 billion, a PE ratio of 35.84, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 over the last three months. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho boosted their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays boosted their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa 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.