GFG Capital LLC Sells 1,233 Shares of Visa Inc. (NYSE:V)

GFG Capital LLC trimmed its holdings in Visa Inc. (NYSE:V) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,047 shares of the credit-card processor’s stock after selling 1,233 shares during the period. Visa accounts for about 2.8% of GFG Capital LLC’s portfolio, making the stock its 10th biggest holding. GFG Capital LLC’s holdings in Visa were worth $10,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors increased its stake in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors lifted its holdings in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc grew its holdings in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Oppenheimer started coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Visa Trading Down 1.3 %

NYSE V opened at $286.85 on Tuesday. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $524.63 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business’s 50-day moving average price is $277.45 and its two-hundred day moving average price is $272.97.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.