Allegheny Financial Group Has $852,000 Position in Visa Inc. (NYSE:V)

Allegheny Financial Group cut its holdings in Visa Inc. (NYSE:V) by 14.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,695 shares of the credit-card processor’s stock after selling 468 shares during the period. Allegheny Financial Group’s holdings in Visa were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of V. Howard Capital Management Group LLC grew its holdings in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares during the period. Principal Financial Group Inc. boosted its position in shares of Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after purchasing an additional 411,210 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Visa in the 3rd quarter valued at $69,000. Passumpsic Savings Bank grew its holdings in shares of Visa by 2.0% in the 3rd quarter. Passumpsic Savings Bank now owns 9,137 shares of the credit-card processor’s stock valued at $2,512,000 after buying an additional 179 shares during the period. Finally, Virtu Financial LLC increased its position in shares of Visa by 101.5% in the 3rd quarter. Virtu Financial LLC now owns 44,984 shares of the credit-card processor’s stock valued at $12,368,000 after buying an additional 22,658 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.9 %

Visa stock opened at $342.40 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day simple moving average of $337.69 and a 200 day simple moving average of $324.10. The stock has a market capitalization of $636.11 billion, a P/E ratio of 34.52, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $2.51 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. This trade represents a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock valued at $48,842,490 in the last three months. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America raised their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday. Finally, Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $362.38.

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.