First Financial Group Corp Sells 52 Shares of Visa Inc. $V

First Financial Group Corp decreased its position in shares of Visa Inc. (NYSE:V) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,022 shares of the credit-card processor’s stock after selling 52 shares during the period. First Financial Group Corp’s holdings in Visa were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after acquiring an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after acquiring an additional 57,800 shares during the period. Precedent Wealth Partners LLC raised its position in shares of Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new stake in shares of Visa during the second quarter valued at approximately $862,000. Finally, Iron Gate Global Advisors LLC raised its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after buying an additional 3,484 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.0%

Shares of V opened at $343.63 on Friday. The company’s fifty day moving average is $343.77 and its 200 day moving average is $346.97. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51. The stock has a market capitalization of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. 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 (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

Analysts Set New Price Targets

Several research firms have recently issued reports on V. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by 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.