Visa Inc. (NYSE:V) Shares Sold by PFG Advisors

PFG Advisors trimmed its stake in shares of Visa Inc. (NYSE:V) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,651 shares of the credit-card processor’s stock after selling 639 shares during the quarter. PFG Advisors’ holdings in Visa were worth $7,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Summit X LLC lifted its holdings in shares of Visa by 0.5% in the 4th quarter. Summit X LLC now owns 8,151 shares of the credit-card processor’s stock valued at $2,576,000 after buying an additional 37 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Visa by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 75,053 shares of the credit-card processor’s stock valued at $23,720,000 after buying an additional 248 shares during the period. Bender Robert & Associates lifted its holdings in shares of Visa by 12.9% in the 4th quarter. Bender Robert & Associates now owns 1,009 shares of the credit-card processor’s stock valued at $319,000 after buying an additional 115 shares during the period. Prosperity Financial Group Inc. lifted its holdings in shares of Visa by 8.3% in the 4th quarter. Prosperity Financial Group Inc. now owns 5,289 shares of the credit-card processor’s stock valued at $1,672,000 after buying an additional 407 shares during the period. Finally, Natural Investments LLC purchased a new position in Visa in the 4th quarter valued at approximately $1,626,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of Visa stock opened at $331.93 on Wednesday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The stock has a market capitalization of $616.65 billion, a P/E ratio of 33.46, a PEG ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $337.01 and its 200 day moving average price is $309.89.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company raised their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. The trade was a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,505 shares of company stock worth $22,290,507 over the last quarter. 0.13% of the stock is owned by corporate insiders.

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.