Northeast Financial Group Inc. Lowers Position in Visa Inc. (NYSE:V)

Northeast Financial Group Inc. lessened its stake in Visa Inc. (NYSE:V) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,838 shares of the credit-card processor’s stock after selling 70 shares during the quarter. Northeast Financial Group Inc.’s holdings in Visa were worth $995,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC bought a new position in Visa during the fourth quarter valued at $306,000. Aptus Capital Advisors LLC increased its position in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after acquiring an additional 30,185 shares during the last quarter. Eagle Strategies LLC increased its position in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after acquiring an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after acquiring an additional 43,546 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays restated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $380.84.

Visa Trading Up 1.4%

Shares of V stock opened at $336.86 on Friday. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average is $352.79 and its two-hundred day moving average is $347.13. The firm has a market capitalization of $621.56 billion, a P/E ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by company 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.