Centric Wealth Management Decreases Stock Holdings in Visa Inc. (NYSE:V)

Centric Wealth Management cut its stake in Visa Inc. (NYSE:V) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,863 shares of the credit-card processor’s stock after selling 7,050 shares during the period. Visa makes up about 1.0% of Centric Wealth Management’s holdings, making the stock its 20th largest holding. Centric Wealth Management’s holdings in Visa were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in Visa by 81.0% during the fourth quarter. Headlands Technologies LLC now owns 5,156 shares of the credit-card processor’s stock worth $1,630,000 after purchasing an additional 2,307 shares during the period. Invenio Wealth Partners LLC raised its position in Visa by 2.6% in the fourth quarter. Invenio Wealth Partners LLC now owns 2,614 shares of the credit-card processor’s stock valued at $826,000 after purchasing an additional 66 shares during the period. Geode Capital Management LLC lifted its stake in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Nemes Rush Group LLC grew its holdings in shares of Visa by 9.0% during the 4th quarter. Nemes Rush Group LLC now owns 35,606 shares of the credit-card processor’s stock worth $11,253,000 after purchasing an additional 2,942 shares during the period. Finally, StoneX Group Inc. acquired a new stake in shares of Visa during the 4th quarter worth about $7,688,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 2.3 %

Shares of Visa stock opened at $350.68 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $344.22 and a 200-day simple moving average of $315.95. The stock has a market cap of $651.48 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on V shares. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price target on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday. Finally, Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is currently owned by company 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.