Visa Inc. $V Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its holdings in Visa Inc. (NYSE:V) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,934 shares of the credit-card processor’s stock after selling 65 shares during the quarter. RFG Advisory LLC’s holdings in Visa were worth $4,947,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Perfromance Wealth Partners LLC lifted its holdings in Visa by 1.4% in the second quarter. Perfromance Wealth Partners LLC now owns 56,499 shares of the credit-card processor’s stock valued at $20,060,000 after acquiring an additional 761 shares during the period. Naviter Wealth LLC lifted its holdings in Visa by 3.1% in the second quarter. Naviter Wealth LLC now owns 15,766 shares of the credit-card processor’s stock valued at $5,598,000 after acquiring an additional 481 shares during the period. Moran Wealth Management LLC acquired a new stake in Visa in the second quarter valued at $18,756,000. Acorn Financial Advisory Services Inc. ADV raised its stake in shares of Visa by 34.9% during the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 1,458 shares of the credit-card processor’s stock worth $518,000 after buying an additional 377 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its position in shares of Visa by 4.2% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 27,506 shares of the credit-card processor’s stock worth $9,766,000 after buying an additional 1,098 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were 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 approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 1.9%

Shares of V stock opened at $341.90 on Friday. The firm has a 50-day moving average price of $344.30 and a 200 day moving average price of $346.83. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company has a market capitalization of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.99 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating 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 firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on V shares. Macquarie raised their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. UBS Group restated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Barclays restated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $389.00.

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.