Congress Wealth Management LLC DE Reduces Position in Visa Inc. (NYSE:V)

Congress Wealth Management LLC DE lowered its position in Visa Inc. (NYSE:V) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,159 shares of the credit-card processor’s stock after selling 10,880 shares during the period. Visa makes up approximately 0.7% of Congress Wealth Management LLC DE’s investment portfolio, making the stock its 28th biggest holding. Congress Wealth Management LLC DE’s holdings in Visa were worth $49,353,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of V. Swedbank AB boosted its holdings in shares of Visa by 10.7% in the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares during the period. Howard Capital Management Group LLC raised its position in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after buying an additional 411,210 shares during the period. Eagle Asset Management Inc. grew its position in shares of Visa by 14.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after buying an additional 4,726 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Visa during the third quarter valued at $1,778,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Thursday. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. UBS Group upped their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of V opened at $336.51 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company’s fifty day moving average price is $340.48 and its 200-day moving average price is $313.29. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The firm has a market capitalization of $625.15 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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 research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.