PFG Advisors Reduces Stock Position in Visa Inc. (NYSE:V)

PFG Advisors reduced its holdings in shares of Visa Inc. (NYSE:V) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,290 shares of the credit-card processor’s stock after selling 903 shares during the quarter. PFG Advisors’ holdings in Visa were worth $6,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after buying an additional 4,166,905 shares during the last quarter. National Bank of Canada FI grew its position in shares of Visa by 787.1% in 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 acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB bought a new stake in shares of Visa in the 1st quarter valued at approximately $511,321,000. GQG Partners LLC raised its position 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 valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its stake in Visa by 26,951.9% during the second 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets lifted their target price on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $313.81.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Visa Stock Down 0.5 %

Shares of V stock opened at $279.29 on Wednesday. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s fifty day moving average is $275.07 and its 200-day moving average is $272.63. The stock has a market cap of $510.80 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

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.