First Pacific Financial Purchases 678 Shares of Visa Inc. $V

First Pacific Financial lifted its position in shares of Visa Inc. (NYSE:V) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,372 shares of the credit-card processor’s stock after purchasing an additional 678 shares during the period. First Pacific Financial’s holdings in Visa were worth $1,552,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in Visa during the first quarter worth about $27,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC increased its holdings in Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $385.96.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Trading Up 1.1%

Shares of Visa stock opened at $349.90 on Friday. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The firm has a market cap of $641.29 billion, a PE ratio of 34.17, a PEG ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $343.78 and a two-hundred day simple moving average of $346.70.

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

Visa Dividend Announcement

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

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.