Financial Enhancement Group LLC reduced its position in Visa Inc. (NYSE:V – Get Rating) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,047 shares of the credit-card processor’s stock after selling 1,962 shares during the quarter. Visa accounts for approximately 1.4% of Financial Enhancement Group LLC’s holdings, making the stock its 19th biggest holding. Financial Enhancement Group LLC’s holdings in Visa were worth $7,551,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monumental Financial Group Inc. purchased a new position in shares of Visa during the first quarter worth approximately $35,000. Rise Advisors LLC purchased a new position in Visa during the fourth quarter valued at approximately $35,000. James Investment Research Inc. increased its holdings in Visa by 1,400.0% during the first quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 168 shares during the period. Rather & Kittrell Inc. purchased a new position in Visa during the fourth quarter valued at approximately $43,000. Finally, Security Financial Services INC. purchased a new position in Visa during the fourth quarter valued at approximately $44,000. 81.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Morgan Stanley raised their target price on shares of Visa from $284.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. The Goldman Sachs Group began coverage on shares of Visa in a research note on Tuesday, May 17th. They issued a “buy” rating and a $282.00 target price for the company. Mizuho lowered their target price on shares of Visa from $235.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, July 1st. Finally, Susquehanna Bancshares lowered their target price on shares of Visa from $290.00 to $260.00 in a research note on Thursday, July 28th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $257.64.
Visa Trading Down 3.4 %
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 22.12%.
Insider Buying and Selling
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $195.37, for a total value of $1,758,330.00. Following the completion of the transaction, the chief executive officer now owns 159,887 shares of the company’s stock, valued at $31,237,123.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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