FCG Investment Co Reduces Stock Position in Visa Inc. (NYSE:V)

FCG Investment Co lowered its stake in shares of Visa Inc. (NYSE:V) by 70.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,625 shares of the credit-card processor’s stock after selling 3,788 shares during the quarter. FCG Investment Co’s holdings in Visa were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Retirement Guys Formula LLC boosted its stake in Visa by 5.2% during the 1st quarter. Retirement Guys Formula LLC now owns 4,528 shares of the credit-card processor’s stock valued at $1,264,000 after acquiring an additional 222 shares during the last quarter. Fruth Investment Management bought a new position in shares of Visa during the first quarter worth about $208,000. Tempus Wealth Planning LLC grew its stake in Visa by 20.8% in the first quarter. Tempus Wealth Planning LLC now owns 2,563 shares of the credit-card processor’s stock worth $715,000 after purchasing an additional 442 shares in the last quarter. Core Wealth Partners LLC increased its holdings in Visa by 11.9% in the first quarter. Core Wealth Partners LLC now owns 3,610 shares of the credit-card processor’s stock valued at $1,007,000 after buying an additional 384 shares during the last quarter. Finally, RBA Wealth Management LLC raised its stake in Visa by 0.6% during the first quarter. RBA Wealth Management LLC now owns 21,599 shares of the credit-card processor’s stock valued at $6,028,000 after buying an additional 134 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE:V traded up $0.76 during midday trading on Thursday, hitting $268.99. 5,017,760 shares of the stock were exchanged, compared to its average volume of 9,395,944. The company has a market capitalization of $491.97 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The business has a 50-day moving average price of $273.45 and a two-hundred day moving average price of $273.65.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

V has been the subject of several research reports. Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup lifted their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Finally, Oppenheimer increased their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa 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.