PFC Capital Group Inc. Decreases Stake in Visa Inc. $V

PFC Capital Group Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 4.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,604 shares of the credit-card processor’s stock after selling 291 shares during the period. Visa comprises approximately 0.9% of PFC Capital Group Inc.’s portfolio, making the stock its 29th largest holding. PFC Capital Group Inc.’s holdings in Visa were worth $1,989,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in V. Vanguard Group Inc. increased its position in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $15,253,245,000 after purchasing an additional 1,067,631 shares during the last quarter. Northern Trust Corp grew its stake in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock valued at $4,552,057,000 after buying an additional 145,665 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by company insiders.

Visa Trading Up 1.4%

NYSE:V opened at $328.24 on Monday. The company has a market capitalization of $597.97 billion, a PE ratio of 32.15, a P/E/G ratio of 1.94 and a beta of 0.87. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock’s 50 day moving average price is $340.46 and its 200 day moving average price is $347.90. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 26.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Robert W. Baird set a $425.00 target price on Visa in a research note on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Macquarie dropped their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.