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

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

Other large investors also recently modified their holdings of the company. Alaethes Wealth LLC lifted its stake in shares of Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 37 shares in the last quarter. Jessup Wealth Management Inc lifted its position in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after purchasing an additional 37 shares during the period. Long Run Wealth Advisors LLC lifted its position in Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the period. Cordatus Wealth Management LLC lifted its position in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC lifted its position in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Price Performance

V traded up $2.60 during trading on Friday, hitting $265.15. 417,970 shares of the company traded hands, compared to its average volume of 6,826,194. The company 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. The stock’s 50-day simple moving average is $272.88 and its two-hundred day simple moving average is $273.85. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $2.09 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on V shares. Macquarie increased their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.44.

Visa 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.