Fiduciary Group LLC Lowers Stock Position in Visa Inc. (NYSE:V)

Fiduciary Group LLC lessened its holdings in Visa Inc. (NYSE:V) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 44,953 shares of the credit-card processor’s stock after selling 195 shares during the quarter. Visa makes up about 1.3% of Fiduciary Group LLC’s holdings, making the stock its 18th largest holding. Fiduciary Group LLC’s holdings in Visa were worth $11,799,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of V. CoreCap Advisors LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $2,609,000. SYM FINANCIAL Corp raised its stake in shares of Visa by 23.0% during the 2nd quarter. SYM FINANCIAL Corp now owns 1,495 shares of the credit-card processor’s stock worth $392,000 after acquiring an additional 280 shares in the last quarter. Client 1ST Advisory Group LLC raised its stake in shares of Visa by 7.5% during the 2nd quarter. Client 1ST Advisory Group LLC now owns 2,170 shares of the credit-card processor’s stock worth $570,000 after acquiring an additional 152 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of Visa by 36.6% during the 2nd quarter. Valley Wealth Managers Inc. now owns 2,660 shares of the credit-card processor’s stock worth $698,000 after acquiring an additional 712 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Visa by 3.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 34,547 shares of the credit-card processor’s stock worth $9,068,000 after acquiring an additional 1,169 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on V shares. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. JPMorgan Chase & Co. upped their price target 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. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $309.81.

Visa Price Performance

Shares of NYSE V opened at $287.36 on Friday. The firm has a 50-day simple moving average of $268.29 and a 200-day simple moving average of $273.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The stock has a market capitalization of $523.66 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

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.