Financial Enhancement Group LLC lowered its position in shares of Visa Inc. (NYSE:V) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,730 shares of the credit-card processor’s stock after selling 1,128 shares during the period. Visa accounts for approximately 1.4% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 21st biggest holding. Financial Enhancement Group LLC’s holdings in Visa were worth $6,718,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Danda Trouve Investment Management Inc. bought a new position in Visa during the 2nd quarter worth $25,000. Baldrige Asset Management LLC bought a new position in Visa during the 2nd quarter worth $40,000. FFT Wealth Management LLC bought a new position in Visa during the 2nd quarter worth $46,000. Financial Management Professionals Inc. increased its stake in Visa by 38.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 58 shares during the period. Finally, Harvest Group Wealth Management LLC bought a new position in Visa during the 2nd quarter worth $50,000. Institutional investors own 81.04% of the company’s stock.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $247.21, for a total value of $2,224,890.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 2,091 shares of the company’s stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $248.71, for a total value of $520,052.61. Following the completion of the transaction, the executive vice president now owns 32,055 shares in the company, valued at approximately $7,972,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 84,813 shares of company stock valued at $20,342,613 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 5.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, August 12th. Visa’s dividend payout ratio is currently 25.40%.
Several equities analysts have recently issued reports on V shares. Oppenheimer lifted their price target on Visa from $260.00 to $281.00 and gave the company an “outperform” rating in a research note on Friday, July 9th. Wedbush lifted their price target on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Truist lifted their price target on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Piper Sandler lifted their price target on Visa from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Finally, Citigroup lifted their price target on Visa from $283.00 to $288.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $271.52.
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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