Abacus Planning Group Inc. Sells 1,392 Shares of Visa Inc. $V

Key Points

• Abacus Planning Group Inc. reduced its stake in Visa Inc. by 68.9% during the 2nd quarter, selling 1,392 shares and now holding 627 shares valued at $223,000.
• Visa's CEO Ryan Mcinerney sold 8,630 shares at an average price of $353.82, representing a 94.14% decrease in his ownership of the stock.
• Visa reported earnings per share (EPS) of $2.98 for the latest quarter, exceeding estimates, with a revenue increase of 14.3% year-over-year.

Abacus Planning Group Inc. reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 68.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 627 shares of the credit-card processor's stock after selling 1,392 shares during the quarter. Abacus Planning Group Inc.'s holdings in Visa were worth $223,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of V. Yeomans Consulting Group Inc. increased its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC boosted its stake in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after buying an additional 29 shares during the period. Kennebec Savings Bank increased its position in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after acquiring an additional 30 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after acquiring an additional 30 shares during the period. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Visa by 11.1% in the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Trading Down 1.7%

NYSE V opened at $338.66 on Wednesday. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company has a 50 day moving average price of $345.41 and a 200 day moving average price of $346.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $620.70 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analyst Ratings Changes

V has been the topic of a number of recent analyst reports. Barclays reissued an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Company 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.

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