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

VaselineOctober 5, 2024

0 4 minutes read

Thrive Wealth Management LLC lifted its position in Visa Inc. (NYSE:V – Free Report) 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 buying an additional 1,120 shares during the quarter. Visa makes up about 0.5% of Thrive Wealth Management LLC’s holdings, making the stock its 24th largest 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. raised 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 in the last quarter. Regency Capital Management Inc. DE grew its position in Visa by 42.0% in 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 purchasing an additional 3,273 shares in the last quarter. Rockland Trust Co. raised its holdings in Visa by 2.7% during the third quarter. Rockland Trust Co. now owns 134,557 shares of the credit card processor’s stock worth $36,996,000 after purchasing an additional 3,587 shares in the last quarter. Duncan Williams Asset Management LLC grew its position in Visa by 21.8% in the third quarter. Duncan Williams Asset Management LLC now owns 5,681 shares of the credit card processor’s stock valued at $1,562,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Abacus Wealth Partners LLC lifted its position in shares of Visa by 21.3% in 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 during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s shares.

Changes in Analyst Ratings

Several equities research analysts recently commented on shares of V. 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 from Tuesday, September 3. 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. The stock currently has an average rating of “Moderate Buy” and an average price target of $312.04, according to MarketBeat.com.

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Visa stock up 0.4%

Shares of 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. it 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 cap 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 – Get Your Free Report ) 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. In the same quarter last year, the company posted earnings of $2.16 per share. Visa’s quarterly revenue was up 9.6% year-over-year. 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 company 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 9. This represents a dividend of $2.08 on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Indoor 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 ownership of the shares. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. 0.19% of shares are owned by company insiders.

About Visa

(Free report)

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables the 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 payment network; Visa Cross-Border Solution, a cross-border payment solution for consumers; and Visa DPS, which offers a range of value-added services including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions and contact center services.