RFP Financial Group LLC Sells 960 Shares of Visa Inc. (NYSE:V)

RFP Financial Group LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 27.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,548 shares of the credit-card processor’s stock after selling 960 shares during the quarter. RFP Financial Group LLC’s holdings in Visa were worth $700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. SG Americas Securities LLC lifted its position in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new position in shares of Visa during the 1st quarter worth about $511,321,000. GQG Partners LLC increased its stake in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $284.88 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $521.03 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 2.00 and a beta of 0.96. The firm’s 50 day simple moving average is $277.95 and its 200 day simple moving average is $273.02. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. As a group, research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

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.