GFG Capital LLC Cuts Stake in Visa Inc. (NYSE:V)

by · The Cerbat Gem

GFG Capital LLC trimmed its position in Visa Inc. (NYSE:V – Free Report) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,047 shares of the credit-card processor’s stock after selling 1,233 shares during the period. Visa makes up approximately 2.8% of GFG Capital LLC’s portfolio, making the stock its 10th biggest position. GFG Capital LLC’s holdings in Visa were worth $10,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in Visa during the second quarter worth $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the 2nd quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 1.3 %

V opened at $286.85 on Tuesday. The business’s fifty day simple moving average is $277.45 and its 200 day simple moving average is $272.97. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The firm has a market cap of $524.63 billion, a P/E ratio of 32.05, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on V shares. JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada cut their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $314.19.

Read Our Latest Analysis on V

Visa Profile

(Free Report)

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.

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