GG Group Ventures LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

GG Group Ventures LLC reduced its stake in Visa Inc. (NYSE:V) by 28.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,943 shares of the credit-card processor’s stock after selling 1,179 shares during the period. Visa comprises about 1.2% of GG Group Ventures LLC’s portfolio, making the stock its 20th biggest holding. GG Group Ventures LLC’s holdings in Visa were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of V. Riverstone Advisors LLC bought a new position in Visa during the fourth quarter valued at approximately $217,000. Journey Strategic Wealth LLC boosted its stake in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after purchasing an additional 1,361 shares in the last quarter. King Wealth Management Group grew its holdings in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa in the 4th quarter worth $10,163,000. Finally, Copley Financial Group Inc. bought a new stake in Visa in the third quarter worth $616,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.2 %

V stock opened at $341.46 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $337.89 and a 200 day moving average of $323.52. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The firm has a market cap of $634.36 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,842,490 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on V shares. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Citigroup reissued a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group boosted their price target on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.17.

Visa Company 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.