Main Street Group LTD Lowers Position in Visa Inc. (NYSE:V)

Main Street Group LTD lowered its stake in shares of Visa Inc. (NYSE:V) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,603 shares of the credit-card processor’s stock after selling 169 shares during the period. Main Street Group LTD’s holdings in Visa were worth $685,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. One Wealth Management Investment & Advisory Services LLC lifted its position in Visa by 3.4% during the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 7,512 shares of the credit-card processor’s stock valued at $1,972,000 after buying an additional 245 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Visa by 39.7% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 112,191 shares of the credit-card processor’s stock valued at $29,447,000 after acquiring an additional 31,898 shares in the last quarter. Hanlon Investment Management Inc. purchased a new stake in Visa during the 2nd quarter worth $216,000. Patron Partners LLC increased its holdings in Visa by 3.6% in the 2nd quarter. Patron Partners LLC now owns 4,447 shares of the credit-card processor’s stock valued at $1,167,000 after purchasing an additional 155 shares in the last quarter. Finally, Gentry Private Wealth LLC purchased a new position in Visa in the second quarter valued at about $488,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V traded up $0.75 during trading hours on Friday, hitting $279.37. The company had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The firm has a market cap of $509.10 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 1.98 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. The business has a fifty day simple moving average of $266.53 and a 200-day simple moving average of $273.14.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Macquarie reiterated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Morgan Stanley cut their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

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.