Thrive Wealth Management LLC Buys 1,120 Shares of Visa Inc. (NYSE:V)

Thrive Wealth Management LLC lifted its position in Visa Inc. (NYSE:V) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,644 shares of the credit-card processor’s stock after purchasing an additional 1,120 shares during the quarter. Visa accounts for approximately 0.5% of Thrive Wealth Management LLC’s holdings, making the stock its 24th biggest holding. Thrive Wealth Management LLC’s holdings in Visa were worth $2,927,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. AMI Investment Management Inc. grew its holdings in shares of Visa by 0.7% during the third quarter. AMI Investment Management Inc. now owns 14,750 shares of the credit-card processor’s stock worth $4,056,000 after purchasing an additional 106 shares during the last quarter. Regency Capital Management Inc. DE lifted its position in Visa by 42.0% during the 3rd quarter. Regency Capital Management Inc. DE now owns 11,061 shares of the credit-card processor’s stock worth $3,041,000 after buying an additional 3,273 shares in the last quarter. Rockland Trust Co. grew its holdings in Visa by 2.7% during the 3rd quarter. Rockland Trust Co. now owns 134,557 shares of the credit-card processor’s stock worth $36,996,000 after acquiring an additional 3,587 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in Visa by 21.8% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 5,681 shares of the credit-card processor’s stock valued at $1,562,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Abacus Wealth Partners LLC lifted its position in shares of Visa by 21.3% during the third quarter. Abacus Wealth Partners LLC now owns 1,677 shares of the credit-card processor’s stock worth $461,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on V shares. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. BMO Capital Markets boosted their target price on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have 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 $312.04.

Visa Stock Up 0.4 %

V stock traded up $1.03 during mid-day trading on Friday, reaching $277.89. The company had a trading volume of 4,259,954 shares, compared to its average volume of 7,201,777. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a 50 day simple moving average of $273.00 and a two-hundred day simple moving average of $273.07. The company has a market capitalization of $506.40 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

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.