Beacon Financial Group Sells 685 Shares of Visa Inc (V)
Beacon Financial Group trimmed its holdings in shares of Visa Inc (NYSE:V) by 2.6% in the 2nd quarter, Holdings Channel reports. The firm owned 25,943 shares of the credit-card processor’s stock after selling 685 shares during the period. Beacon Financial Group’s holdings in Visa were worth $3,436,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in V. Stifel Financial Corp raised its holdings in Visa by 2.6% in the 1st quarter. Stifel Financial Corp now owns 1,866,738 shares of the credit-card processor’s stock worth $223,368,000 after acquiring an additional 47,939 shares during the last quarter. Robecosam AG raised its stake in Visa by 17.8% during the 4th quarter. Robecosam AG now owns 9,562 shares of the credit-card processor’s stock valued at $1,093,000 after buying an additional 1,445 shares during the last quarter. 6 Meridian purchased a new stake in Visa during the 1st quarter valued at $6,393,000. Financial Advocates Investment Management raised its stake in Visa by 29.0% during the 1st quarter. Financial Advocates Investment Management now owns 25,224 shares of the credit-card processor’s stock valued at $3,017,000 after buying an additional 5,672 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC raised its stake in Visa by 5.8% during the 1st quarter. Matthew Goff Investment Advisor LLC now owns 55,808 shares of the credit-card processor’s stock valued at $6,676,000 after buying an additional 3,069 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.
A number of equities research analysts have weighed in on V shares. Morgan Stanley upgraded shares of Visa to an “overweight” rating in a research note on Monday, July 23rd. Wolfe Research started coverage on shares of Visa in a research note on Tuesday, July 17th. They set an “outperform” rating for the company. Raymond James reiterated an “outperform” rating and set a $165.00 target price on shares of Visa in a research note on Tuesday, July 24th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Finally, Wedbush boosted their target price on shares of Visa from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, June 6th. Three research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $147.87.
Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. Visa had a net margin of 47.91% and a return on equity of 36.09%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. sell-side analysts forecast that Visa Inc will post 4.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, August 16th. Visa’s payout ratio is 24.14%.
In other news, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now owns 58,232 shares of the company’s stock, valued at approximately $8,185,089.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now directly owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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