Matthew Goff Investment Advisor LLC Sells 746 Shares of Visa Inc. $V

Key Points

• Matthew Goff Investment Advisor LLC decreased its holdings in Visa Inc. by 1.1%, selling 746 shares, and now owns a total of 70,141 shares worth approximately $24.9 million.
• Major institutional investors have increased their investments in Visa, including UBS Asset Management, which lifted its stake by 7.2%, acquiring an additional 955,392 shares.
• Visa's recent quarterly earnings report showed an EPS of $2.98, surpassing estimates, with a year-over-year revenue growth of 14.3% to $10.17 billion.

Matthew Goff Investment Advisor LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,141 shares of the credit-card processor's stock after selling 746 shares during the period. Visa accounts for about 4.6% of Matthew Goff Investment Advisor LLC's portfolio, making the stock its 4th largest holding. Matthew Goff Investment Advisor LLC's holdings in Visa were worth $24,903,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its holdings in Visa by 5.7% in the first 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 last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Visa by 14.5% in the first 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 last quarter. Iron Gate Global Advisors LLC lifted its holdings in Visa by 5.9% in the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. lifted its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on 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 transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

V has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Citigroup initiated coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Stock Performance

NYSE V opened at $342.07 on Friday. 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 Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a market capitalization of $626.94 billion, a PE ratio of 33.41, a P/E/G ratio of 2.25 and a beta of 0.92. The company has a fifty day moving average of $345.70 and a two-hundred day moving average of $346.41.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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