Main Street Group LTD Has $685,000 Holdings in Visa Inc. (NYSE:V)

Main Street Group LTD reduced its position in shares of Visa Inc. (NYSE:V) by 6.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,603 shares of the credit-card processor’s stock after selling 169 shares during the period. Main Street Group LTD’s holdings in Visa were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors grew its holdings in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors raised its holdings in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Norges Bank acquired a new stake in Visa during the fourth quarter valued at $3,895,015,000. Finally, Fisher Asset Management LLC grew its stake in Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of recent research reports. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley reduced their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $309.54.

Visa Stock Performance

V stock traded up $0.75 during midday trading on Friday, hitting $279.37. The stock had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $266.53 and a 200 day simple moving average of $273.14. The firm has a market capitalization of $509.10 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Company 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.