Visa Inc. (NYSE:V) Shares Sold by PCG Asset Management LLC

PCG Asset Management LLC cut its stake in shares of Visa Inc. (NYSE:V) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,184 shares of the credit-card processor’s stock after selling 200 shares during the quarter. Visa comprises about 1.4% of PCG Asset Management LLC’s investment portfolio, making the stock its 19th largest position. PCG Asset Management LLC’s holdings in Visa were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. von Borstel & Associates Inc. acquired a new stake in Visa in the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa in the 4th quarter valued at about $47,000. Navigoe LLC acquired a new stake in Visa in the 4th quarter valued at about $53,000. O Brien Wealth Partners LLC acquired a new stake in Visa in the 1st quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Visa in the 1st quarter valued at about $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.4%

Visa stock opened at $336.86 on Monday. The firm’s 50-day moving average is $352.79 and its 200-day moving average is $347.26. 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 Inc. has a 1 year low of $258.74 and a 1 year high of $375.51. The company has a market cap of $617.39 billion, a P/E ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) 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 company 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 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid 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 is Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,100 shares of company stock worth $27,643,224. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on V shares. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $380.84.

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.