Thrive Wealth Management LLC Reduces Stock Holdings in Visa Inc. (NYSE:V)

Thrive Wealth Management LLC cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,009 shares of the credit-card processor's stock after selling 1,416 shares during the period. Visa makes up about 0.6% of Thrive Wealth Management LLC's portfolio, making the stock its 25th biggest holding. Thrive Wealth Management LLC's holdings in Visa were worth $3,157,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter worth about $5,171,271,000. GAMMA Investing LLC grew its position in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. grew its position in Visa by 4.6% in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Visa during the fourth quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC raised its position in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Up 1.0%

NYSE V traded up $3.67 on Friday, reaching $370.44. 5,007,822 shares of the stock traded hands, compared to its average volume of 7,003,538. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $371.00. The company has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.96. The company has a fifty day moving average price of $344.98 and a 200-day moving average price of $335.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

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, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the company posted $2.51 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa's payout ratio is presently 23.72%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,162 shares of company stock worth $58,645,479. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

V has been the subject of several analyst reports. Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Oppenheimer restated an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $359.00 to $425.00 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

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.