Financial Enhancement Group LLC Sells 2,381 Shares of Visa Inc. $V

Key Points

• Financial Enhancement Group LLC reduced its holdings in Visa Inc. by 6.2%, selling 2,381 shares and retaining 35,747 shares, which now represent 1.8% of its portfolio.
• Visa announced a quarterly dividend of $0.59, resulting in an annualized dividend of $2.36 and a dividend yield of 0.7%.
• Analysts have positive outlooks for Visa, with Barclays and Jefferies boosting their price targets for the stock to $408.00 and $410.00, respectively, reflecting strong growth expectations.

Financial Enhancement Group LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,747 shares of the credit-card processor's stock after selling 2,381 shares during the period. Visa accounts for 1.8% of Financial Enhancement Group LLC's portfolio, making the stock its 15th largest holding. Financial Enhancement Group LLC's holdings in Visa were worth $12,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter valued at $28,000. 1 North Wealth Services LLC bought a new stake in Visa in the 1st quarter valued at $38,000. Finally, Westend Capital Management LLC increased its holdings in Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 1.7%

Shares of V opened at $338.66 on Wednesday. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a 50-day moving average of $345.41 and a 200 day moving average of $346.32. The firm has a market capitalization of $620.70 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction 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 represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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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