RFP Financial Group LLC Has $942,000 Position in Visa Inc. (NYSE:V)

RFP Financial Group LLC cut its holdings in Visa Inc. (NYSE:V) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,375 shares of the credit-card processor’s stock after selling 566 shares during the quarter. RFP Financial Group LLC’s holdings in Visa were worth $942,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new position in Visa in the 1st quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in Visa during the 4th quarter worth $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $33,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $40,000. 82.15% of the stock is owned by institutional investors.

Visa Trading Down 1.4 %

Shares of V stock traded down $3.69 on Friday, reaching $265.46. The company had a trading volume of 6,552,653 shares, compared to its average volume of 6,858,849. The stock has a market cap of $485.51 billion, a PE ratio of 29.66, a PEG ratio of 1.90 and a beta of 0.95. The company has a 50-day moving average of $272.00 and a 200-day moving average of $274.22. 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 12 month low of $227.68 and a 12 month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. On average, equities analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The business 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. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is 23.24%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on V shares. Royal Bank of Canada raised their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup upped their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $304.72.

Insider Buying and Selling

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