Financial Connections Group Inc. Sells 898 Shares of Visa Inc. (NYSE:V)

Financial Connections Group Inc. lessened its stake in shares of Visa Inc. (NYSE:V) by 57.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 662 shares of the credit-card processor’s stock after selling 898 shares during the quarter. Financial Connections Group Inc.’s holdings in Visa were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of V. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the 4th quarter valued at $32,000. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $33,000. Finally, Valued Wealth Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $37,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0 %

Shares of NYSE:V traded up $2.60 during midday trading on Friday, reaching $265.15. The company had a trading volume of 417,970 shares, compared to its average volume of 6,826,194. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average price is $272.88 and its 200 day moving average price is $273.85. The stock has a market cap of $484.94 billion, a PE ratio of 29.34, a P/E/G ratio of 1.80 and a beta of 0.95. Visa Inc. has a 1-year low of $227.68 and a 1-year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 earnings per share. Research analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on V shares. Piper Sandler started coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $304.44.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Visa Company Profile

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.