Park Square Financial Group LLC Sells 2,009 Shares of Visa Inc. $V

Park Square Financial Group LLC cut its holdings in Visa Inc. (NYSE:V) by 95.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93 shares of the credit-card processor’s stock after selling 2,009 shares during the period. Park Square Financial Group LLC’s holdings in Visa were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of V. Norges Bank purchased a new position in shares of Visa in the second quarter valued at $7,034,939,000. TCI Fund Management Ltd. lifted its holdings in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after purchasing an additional 2,075,289 shares during the period. Vanguard Group Inc. boosted its stake in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on V shares. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target for the company in a research report on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price target on shares of Visa in a report on Friday, January 30th. Finally, Daiwa Securities Group upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research report on Monday, February 2nd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $391.43.

Visa Stock Performance

Visa stock opened at $319.07 on Monday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $579.17 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78. The firm’s fifty day moving average price is $333.00 and its 200-day moving average price is $338.09.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is 25.14%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.