22,585 Visa Inc. $V Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its position in Visa Inc. (NYSE:V) by 884.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,140 shares of the credit-card processor’s stock after buying an additional 22,585 shares during the period. Visa accounts for about 0.5% of Provenance Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Provenance Wealth Advisors LLC’s holdings in Visa were worth $9,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ackerman Capital Advisors LLC raised its holdings in shares of Visa by 5.7% in the third quarter. Ackerman Capital Advisors LLC now owns 3,767 shares of the credit-card processor’s stock valued at $1,354,000 after buying an additional 202 shares during the last quarter. Associated Banc Corp acquired a new position in shares of Visa during the third quarter worth approximately $4,710,000. Putney Financial Group LLC lifted its position in shares of Visa by 0.7% during the third quarter. Putney Financial Group LLC now owns 4,997 shares of the credit-card processor’s stock worth $1,796,000 after purchasing an additional 34 shares in the last quarter. Richwood Investment Advisors LLC grew its stake in shares of Visa by 1.2% during the third quarter. Richwood Investment Advisors LLC now owns 10,358 shares of the credit-card processor’s stock valued at $3,722,000 after purchasing an additional 127 shares during the last quarter. Finally, Integrity Alliance LLC. grew its stake in shares of Visa by 1.0% during the third quarter. Integrity Alliance LLC. now owns 28,999 shares of the credit-card processor’s stock valued at $10,420,000 after purchasing an additional 288 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa raised its quarterly dividend to $0.78 per share, alongside reported double-digit year-over-year growth in quarterly revenue and profit. These developments support the view that its payments business is growing while returning cash to shareholders. Read article: Will Earnings Beat Change Visa Stock’s Narrative
• Positive Sentiment: Visa signed partnerships in Hong Kong and Senegal to advance AI-enabled commerce and digital payments, potentially expanding its reach in fintech and financial inclusion. Read article: Visa Signs Two New Deals To Push AI Commerce And Digital Payments
• Positive Sentiment: Bill Ackman praised Visa alongside Mastercard and Netflix, while Cantor Fitzgerald maintained an Overweight rating and raised its price target to $500. Zacks also upgraded Visa to a Buy rating, citing earnings prospects. Read article: Ackman Calls Stock Market Broken but Touts Visa Read article: Visa Stocks Rise With Higher Cantor Target
• Neutral Sentiment: Former CEO Joseph Saunders, who led Visa’s 2008 IPO, has died. The reports describe his legacy but provide no indication of an operational or financial impact on the company. Read article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: CEO Ryan McInerney sold 5,875 shares, reducing his position by about 28%. The sale was made under a pre-arranged Rule 10b5-1 plan, which moderates its significance as a signal about his outlook. Read SEC filing

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. The trade was a 27.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,778,929.36. The trade was a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,395 shares of company stock valued at $10,406,050 in the last quarter. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on V shares. President Capital raised their price target on shares of Visa from $411.00 to $474.00 and gave the company a “buy” rating in a report on Monday, August 17th. Susquehanna set a $480.00 price objective on Visa and gave the stock a “positive” rating in a report on Monday, October 26th. TD Cowen reiterated a “buy” rating and issued a $450.00 price objective (up from $420.00) on shares of Visa in a research report on Wednesday, October 28th. Erste Group Bank raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $466.00 target price on shares of Visa in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $440.03.

Visa Stock Down 1.2%

Shares of NYSE V opened at $420.27 on Wednesday. The firm has a market capitalization of $749.95 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $426.78. The firm’s 50-day moving average is $383.16 and its 200-day moving average is $343.20.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm posted $2.98 earnings per share. Visa’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 15.03 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. This is a boost from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio (DPR) is presently 21.74%.

About Visa

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.