Pacific Center for Financial Services Cuts Position in Visa Inc. (NYSE:V)

Pacific Center for Financial Services reduced its position in shares of Visa Inc. (NYSE:V) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,602 shares of the credit-card processor’s stock after selling 176 shares during the period. Visa comprises about 0.4% of Pacific Center for Financial Services’ holdings, making the stock its 23rd largest holding. Pacific Center for Financial Services’ holdings in Visa were worth $1,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of V. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa in the second quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V opened at $311.01 on Friday. The company has a market capitalization of $579.37 billion, a P/E ratio of 31.96, a PEG ratio of 2.08 and a beta of 0.96. The company has a 50-day moving average of $295.71 and a 200-day moving average of $279.71. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $317.42.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Analyst Ratings Changes

A number of brokerages recently issued reports on V. Mizuho upped their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.