GFG Capital LLC reduced its stake in Visa Inc. (NYSE:V - Free Report) by 19.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 26,922 shares of the credit-card processor's stock after selling 6,593 shares during the quarter. Visa accounts for approximately 2.8% of GFG Capital LLC's portfolio, making the stock its 12th largest holding. GFG Capital LLC's holdings in Visa were worth $9,559,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares during the period. Precedent Wealth Partners LLC raised its stake in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after acquiring an additional 111 shares during the period. Consilium Wealth Advisory LLC bought a new stake in Visa in the 2nd quarter valued at about $862,000. Finally, Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Visa Trading Down 1.0%
Shares of V opened at $343.63 on Monday. The business's 50-day moving average price is $343.77 and its 200-day moving average price is $346.97. Visa Inc. has a twelve month low of $275.37 and a twelve month high of $375.51. The stock has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. 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 (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie boosted their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Robert W. Baird set a $410.00 price target on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.
View Our Latest Research Report on V
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company'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 transaction of $697,328.54. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
About Visa
(
Free Report)
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.
See Also
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