Copley Financial Group Inc. Sells 363 Shares of Visa Inc. $V

Copley Financial Group Inc. lessened its holdings in shares of Visa Inc. (NYSE:V) by 15.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,988 shares of the credit-card processor’s stock after selling 363 shares during the quarter. Visa comprises 0.5% of Copley Financial Group Inc.’s investment portfolio, making the stock its 28th largest position. Copley Financial Group Inc.’s holdings in Visa were worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Keystone Global Partners LLC purchased a new position in Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the second quarter worth $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new stake in Visa during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on V shares. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $425.00 price target on shares of Visa in a research note on Wednesday, October 29th. Macquarie lowered their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Performance

Shares of V stock opened at $334.10 on Thursday. The company has a market capitalization of $608.65 billion, a P/E ratio of 32.72, a PEG ratio of 1.98 and a beta of 0.87. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day moving average price of $339.91 and a two-hundred day moving average price of $347.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

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.