PFG Investments LLC Has $10.30 Million Stock Holdings in Visa Inc. $V

Key Points

• PFG Investments LLC reduced its holdings in Visa Inc. by 6.1% during the second quarter, owning 28,996 shares valued at approximately $10.30 million at the end of the reporting period.
• Visa's CEO Ryan Mcinerney sold 10,485 shares for over $3.5 million, resulting in a significant decrease of 95.13% in his position.
• Visa reported quarterly earnings of $2.98 per share, exceeding estimates and marking a 14.3% year-over-year revenue growth with total revenues of $10.17 billion.

PFG Investments LLC decreased its position in Visa Inc. (NYSE:V - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,996 shares of the credit-card processor's stock after selling 1,879 shares during the period. Visa accounts for 0.6% of PFG Investments LLC's portfolio, making the stock its 26th largest position. PFG Investments LLC's holdings in Visa were worth $10,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Visa by 2.8% in the first quarter. Annex Advisory Services LLC now owns 182,935 shares of the credit-card processor's stock valued at $64,111,000 after buying an additional 4,991 shares during the period. Vest Financial LLC boosted its holdings in Visa by 25.5% during the first quarter. Vest Financial LLC now owns 141,927 shares of the credit-card processor's stock worth $49,740,000 after buying an additional 28,870 shares during the last quarter. Finally, Foster Group Inc. grew its position in shares of Visa by 25.7% during the 1st quarter. Foster Group Inc. now owns 3,236 shares of the credit-card processor's stock worth $1,134,000 after buying an additional 661 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 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. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 1.1%

Shares of Visa stock opened at $349.90 on Friday. The firm has a market cap of $641.29 billion, a PE ratio of 34.17, a P/E/G ratio of 2.05 and a beta of 0.90. The business's 50 day simple moving average is $343.78 and its 200 day simple moving average is $346.70. 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 52-week low of $273.24 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results 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 during 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%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa 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 price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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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