Pacific Wealth Strategies Group Inc. raised its position in shares of Visa Inc. (NYSE:V) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,950 shares of the credit-card processor’s stock after purchasing an additional 213 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Visa were worth $880,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Danda Trouve Investment Management Inc. purchased a new position in shares of Visa in the second quarter worth $25,000. Delos Wealth Advisors LLC bought a new stake in Visa in the second quarter worth $29,000. Baldrige Asset Management LLC bought a new stake in Visa in the second quarter worth $40,000. FFT Wealth Management LLC bought a new stake in Visa in the second quarter worth $46,000. Finally, Financial Management Professionals Inc. increased its position in Visa by 38.9% in the second quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock worth $48,000 after purchasing an additional 58 shares during the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.
V has been the topic of several research reports. Daiwa Capital Markets cut shares of Visa from an “outperform” rating to a “neutral” rating and set a $250.00 price target on the stock. in a research report on Thursday, August 12th. Royal Bank of Canada cut their price objective on shares of Visa from $297.00 to $284.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 27th. Raymond James cut their price objective on shares of Visa from $286.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 27th. Mizuho cut their price objective on shares of Visa from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, November 1st. Finally, Truist boosted their price objective on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $270.11.
Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.51 billion. Visa had a return on equity of 37.62% and a net margin of 51.07%. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. As a group, research analysts forecast that Visa Inc. will post 7.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Friday, November 12th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 10th. Visa’s dividend payout ratio (DPR) is presently 26.64%.
In other Visa news, President Ryan Mcinerney sold 11,194 shares of the business’s stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $224.17, for a total transaction of $2,509,358.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, September 30th. The stock was sold at an average price of $227.58, for a total transaction of $2,048,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,580 shares of company stock valued at $11,376,866 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Visa Company Profile
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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