Centric Wealth Management Sells 1,231 Shares of Visa Inc. $V

Key Points

• Centric Wealth Management sold 1,231 shares of Visa Inc., reducing its stake by 10.4%, leaving them with 10,632 shares valued at approximately $3.7 million.
• Vanguard Group Inc. and GAMMA Investing LLC made significant investments in Visa, with GAMMA's holdings increasing by 38,416.3% during the first quarter, bringing its total to over $5.1 billion.
• Visa recently announced a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 0.7%, with a payout ratio of 23.05%.

Centric Wealth Management cut its holdings in Visa Inc. (NYSE:V - Free Report) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,632 shares of the credit-card processor's stock after selling 1,231 shares during the quarter. Visa makes up 1.0% of Centric Wealth Management's holdings, making the stock its 25th biggest holding. Centric Wealth Management's holdings in Visa were worth $3,726,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of V. Keystone Global Partners LLC acquired a new stake in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter valued at about $47,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the first quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Visa during the first quarter valued at about $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Visa Trading Up 0.6%

Shares of Visa stock traded up $2.06 during midday trading on Friday, reaching $351.92. The company had a trading volume of 3,670,969 shares, compared to its average volume of 5,856,767. The stock has a fifty day moving average price of $348.35 and a 200 day moving average price of $347.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $645.00 billion, a PE ratio of 34.37, a P/E/G ratio of 2.34 and a beta of 0.92. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,127 shares of company stock worth $28,340,553. 0.13% of the stock is owned by corporate insiders.

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.