GFG Capital LLC Cuts Stake in Visa Inc. $V

GFG Capital LLC lowered its position in Visa Inc. (NYSE:V) by 19.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 26,922 shares of the credit-card processor’s stock after selling 6,593 shares during the period. Visa comprises approximately 2.8% of GFG Capital LLC’s investment portfolio, making the stock its 12th largest position. GFG Capital LLC’s holdings in Visa were worth $9,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. GAMMA Investing LLC boosted its stake in Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after buying an additional 3,795 shares in the last quarter. Goldstone Financial Group LLC boosted its stake in Visa by 7.7% in the first quarter. Goldstone Financial Group LLC now owns 1,459 shares of the credit-card processor’s stock worth $511,000 after buying an additional 104 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Visa by 22.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 867,704 shares of the credit-card processor’s stock valued at $304,096,000 after purchasing an additional 161,161 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $343.63 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. The business has a 50 day moving average of $343.77 and a 200 day moving average of $346.97. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Barclays reissued an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently 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.