FCG Investment Co Cuts Stock Position in Visa Inc. $V

Key Points

• FCG Investment Co has reduced its stake in Visa Inc. by 22.0%, holding about 7,992 shares now, valued at approximately $2.84 million.
• Institutional investors currently hold 82.15% of Visa's stock, with notable increases from firms like Vanguard Group and Northern Trust Corp.
• Visa's latest earnings report revealed an EPS of $2.98, beating estimates, and the company declared a quarterly dividend of $0.59 per share.

FCG Investment Co lessened its stake in Visa Inc. (NYSE:V - Free Report) by 22.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,992 shares of the credit-card processor's stock after selling 2,249 shares during the period. Visa accounts for approximately 1.5% of FCG Investment Co's investment portfolio, making the stock its 15th largest holding. FCG Investment Co's holdings in Visa were worth $2,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Northern Trust Corp boosted its holdings in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after acquiring an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. 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 report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa Trading Up 0.7%

Visa stock opened at $337.15 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $272.78 and a 52 week high of $375.51. The company has a market capitalization of $617.93 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The stock has a 50-day moving average price of $344.65 and a 200 day moving average price of $346.35.

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

Visa Announces Dividend

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

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.

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