Flavin Financial Services Inc. Sells 493 Shares of Visa Inc. $V

Flavin Financial Services Inc. lessened its holdings in Visa Inc. (NYSE:V) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,817 shares of the credit-card processor’s stock after selling 493 shares during the quarter. Visa accounts for 2.3% of Flavin Financial Services Inc.’s investment portfolio, making the stock its 15th largest position. Flavin Financial Services Inc.’s holdings in Visa were worth $2,420,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of V. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter worth $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC grew its stake in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on V shares. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Barclays reiterated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $389.74.

Visa Stock Up 0.8%

Shares of NYSE V opened at $347.17 on Wednesday. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The business has a 50-day simple moving average of $344.68 and a two-hundred day simple moving average of $347.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $636.29 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last issued its 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

About Visa

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.