Bridgewealth Advisory Group LLC Takes $241,000 Position in Visa Inc. (NYSE:V)

Bridgewealth Advisory Group LLC purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 761 shares of the credit-card processor's stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Vanguard Group Inc. grew its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC raised its holdings in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors boosted its stake in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors boosted its position in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp grew its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on V. Wells Fargo & Company lifted their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $362.38.

Visa Stock Performance

V stock traded up $5.21 during trading on Friday, hitting $347.66. 6,112,726 shares of the company's stock traded hands, compared to its average volume of 7,225,059. The stock has a fifty day moving average price of $337.61 and a two-hundred day moving average price of $324.57. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market capitalization of $645.87 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. Visa's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's payout ratio is currently 23.79%.

Insiders Place Their Bets

In related news, CAO Peter M. Andreski sold 2,332 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,400 shares of company stock valued at $52,711,258 over the last three months. Company insiders own 0.13% 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.