GFG Capital LLC Reduces Stake in Visa Inc. (NYSE:V)

GFG Capital LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,515 shares of the credit-card processor's stock after selling 5,439 shares during the quarter. Visa makes up approximately 3.4% of GFG Capital LLC's investment portfolio, making the stock its 8th largest position. GFG Capital LLC's holdings in Visa were worth $11,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. von Borstel & Associates Inc. acquired a new position in shares of Visa in the first quarter valued at approximately $27,000. Sellwood Investment Partners LLC bought a new position in Visa in the 4th quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. bought a new position in Visa in the 4th quarter valued at approximately $47,000. Measured Risk Portfolios Inc. bought a new position in Visa in the 4th quarter valued at approximately $47,000. Finally, Navigoe LLC bought a new position in Visa in the 4th quarter valued at approximately $53,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.6%

NYSE V traded down $2.20 during mid-day trading on Thursday, hitting $355.56. The company's stock had a trading volume of 6,116,019 shares, compared to its average volume of 6,837,832. The company's 50 day simple moving average is $356.66 and its 200 day simple moving average is $342.11. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $656.07 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $2.51 EPS. Visa's revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group raised their price objective on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Truist Financial assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Finally, Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $372.84.

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.