Pacific Wealth Strategies Group Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 5.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,950 shares of the credit-card processor’s stock after acquiring an additional 213 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Visa were worth $880,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in shares of Visa in the third quarter worth $373,000. Voloridge Investment Management LLC bought a new stake in shares of Visa in the first quarter worth $2,451,000. Canada Pension Plan Investment Board increased its stake in shares of Visa by 61.3% in the first quarter. Canada Pension Plan Investment Board now owns 963 shares of the credit-card processor’s stock worth $204,000 after buying an additional 366 shares during the last quarter. Aspire Private Capital LLC increased its stake in shares of Visa by 108.3% in the first quarter. Aspire Private Capital LLC now owns 1,252 shares of the credit-card processor’s stock worth $265,000 after buying an additional 651 shares during the last quarter. Finally, MBL Wealth LLC increased its stake in shares of Visa by 20.8% in the first quarter. MBL Wealth LLC now owns 3,318 shares of the credit-card processor’s stock worth $702,000 after buying an additional 572 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $208.57, for a total transaction of $1,877,130.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total value of $2,564,316.30. Following the sale, the president now directly owns 11,193 shares in the company, valued at $2,564,316.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,580 shares of company stock worth $11,376,866. Corporate insiders own 0.19% of the company’s stock.
Shares of V traded up $4.76 during mid-day trading on Thursday, reaching $203.25. The company’s stock had a trading volume of 12,022,669 shares, compared to its average volume of 8,681,419. The business has a fifty day moving average of $219.79 and a 200 day moving average of $228.86. The company has a market cap of $395.92 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. Visa Inc. has a 1 year low of $192.81 and a 1 year high of $252.67. The company has a quick ratio of 2.00, a current ratio of 1.75 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.09. Visa had a return on equity of 37.62% and a net margin of 51.07%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the company earned $1.12 earnings per share. Visa’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 7.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Shareholders of record on Friday, November 12th will be issued a dividend of $0.375 per share. This is a positive change from Visa’s previous quarterly dividend of $0.32. This represents a $1.50 annualized dividend and a yield of 0.74%. The ex-dividend date is Wednesday, November 10th. Visa’s dividend payout ratio (DPR) is 26.64%.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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