Visa Inc. $V Shares Sold by CFO4Life Group LLC

CFO4Life Group LLC lowered its holdings in Visa Inc. (NYSE:V) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,938 shares of the credit-card processor’s stock after selling 550 shares during the period. Visa comprises 1.6% of CFO4Life Group LLC’s holdings, making the stock its 15th biggest holding. CFO4Life Group LLC’s holdings in Visa were worth $9,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Keystone Global Partners LLC acquired a new stake in shares of Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the second quarter valued at $29,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Hoese & Co LLP purchased a new position in Visa in the 2nd quarter worth about $36,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 1.8%

V stock opened at $329.89 on Friday. The company has a 50 day moving average of $342.16 and a two-hundred day moving average of $348.64. The company has a market cap of $604.63 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 2.03 and a beta of 0.87. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the company posted $2.71 EPS. Visa’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is currently 26.25%.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.