WCG Wealth Advisors LLC Sells 3,228 Shares of Visa Inc. $V

Key Points

• WCG Wealth Advisors LLC decreased its holdings in Visa Inc. by 9%, owning 32,721 shares worth approximately $11.47 million after selling 3,228 shares in Q1.
• Visa's stock recently received upgrades from multiple research analysts, with Oppenheimer raising its target price to $391 and a consensus "Moderate Buy" rating across several analysts.
• Insider trading was notable, with CEO Ryan Mcinerney selling 8,630 shares and insider Paul D. Fabara selling 46,214 shares, significantly reducing their positions.

WCG Wealth Advisors LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,721 shares of the credit-card processor's stock after selling 3,228 shares during the quarter. WCG Wealth Advisors LLC's holdings in Visa were worth $11,467,000 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 the stock. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after acquiring an additional 1,723,785 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Visa by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock worth $4,045,149,000 after acquiring an additional 164,008 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. 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 reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $380.84.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,127 shares of company stock worth $28,340,553. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.6%

Visa stock opened at $349.3180 on Monday. 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 $265.31 and a 52-week high of $375.51. The firm has a 50 day moving average price of $347.92 and a two-hundred day moving average price of $347.39. The firm has a market cap of $640.23 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the business earned $2.42 EPS. The company's revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 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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