Fulton Breakefield Broenniman LLC Decreases Holdings in Visa Inc. $V

Key Points

• Fulton Breakefield Broenniman LLC reduced its holdings in Visa Inc. by 0.8%, now owning 103,280 shares valued at approximately $36.67 million.
• Insider transactions reveal major sales, including CEO Ryan Mcinerney selling 10,485 shares, reducing his position by 95.13% after the sale.
• Research firms show bullish sentiment on Visa, with Barclays and Morgan Stanley increasing their price targets to $408 and $402 respectively, while maintaining buy ratings.

Fulton Breakefield Broenniman LLC trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,280 shares of the credit-card processor's stock after selling 836 shares during the period. Visa accounts for about 2.5% of Fulton Breakefield Broenniman LLC's holdings, making the stock its 12th largest holding. Fulton Breakefield Broenniman LLC's holdings in Visa were worth $36,670,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Yeomans Consulting Group Inc. increased its position in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC increased its position in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC increased its position in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after purchasing an additional 29 shares during the period. Wood Tarver Financial Group LLC increased its position in Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after purchasing an additional 30 shares during the period. Finally, Synergy Investment Management LLC increased its position in Visa by 5.3% during the 1st quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor's stock worth $209,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on V. Barclays restated an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Morgan Stanley upped 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. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. UBS Group restated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Price Performance

Shares of NYSE:V opened at $343.63 on Monday. The business's fifty day moving average price is $343.77 and its two-hundred day moving average price is $346.97. The stock has a market cap of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $275.37 and a one year high of $375.51.

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

Visa Dividend Announcement

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

About Visa

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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