Pacific Wealth Strategies Group Inc. Has $1.38 Million Stake in Visa Inc. (NYSE:V)

Pacific Wealth Strategies Group Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 5,287 shares of the credit-card processor’s stock after selling 46 shares during the period. Visa comprises approximately 1.3% of Pacific Wealth Strategies Group Inc.’s portfolio, making the stock its 20th largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Visa were worth $1,377,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in Visa by 13.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 12,529 shares of the credit-card processor’s stock worth $3,262,000 after buying an additional 1,476 shares during the period. SlateStone Wealth LLC lifted its holdings in Visa by 1.9% during the 4th quarter. SlateStone Wealth LLC now owns 27,828 shares of the credit-card processor’s stock worth $7,245,000 after buying an additional 526 shares during the period. Larson Financial Group LLC lifted its holdings in Visa by 21.4% during the 4th quarter. Larson Financial Group LLC now owns 16,369 shares of the credit-card processor’s stock worth $4,262,000 after buying an additional 2,881 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Visa by 2.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 73,271 shares of the credit-card processor’s stock worth $19,076,000 after buying an additional 1,528 shares during the period. Finally, PDS Planning Inc lifted its holdings in Visa by 7.3% during the 4th quarter. PDS Planning Inc now owns 8,436 shares of the credit-card processor’s stock worth $2,196,000 after buying an additional 571 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock traded up $2.66 during trading on Wednesday, hitting $276.77. The stock had a trading volume of 2,898,388 shares, compared to its average volume of 5,837,713. The firm has a market cap of $508.29 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 1.88 and a beta of 0.96. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The business’s 50-day moving average is $279.49 and its 200 day moving average is $263.90. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is presently 23.94%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 18,965 shares of company stock valued at $5,256,352 over the last 90 days. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on V shares. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. KeyCorp boosted their target price on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Citigroup boosted their price objective on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada boosted their target price on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $301.35.

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.