Main Street Group LTD Decreases Position in Visa Inc. (NYSE:V)

Main Street Group LTD lessened its holdings in Visa Inc. (NYSE:V) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,330 shares of the credit-card processor’s stock after selling 165 shares during the quarter. Main Street Group LTD’s holdings in Visa were worth $736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Norges Bank purchased a new stake in Visa during the fourth quarter worth about $5,171,271,000. Vanguard Group Inc. lifted its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Visa in the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC lifted its position in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $356.13 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $661.61 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The firm has a fifty day moving average price of $337.30 and a 200-day moving average price of $328.04.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This represents a 59.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America boosted their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $362.38.

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.