Midwest Financial Group LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Midwest Financial Group LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 56.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,713 shares of the credit-card processor’s stock after selling 2,197 shares during the quarter. Midwest Financial Group LLC’s holdings in Visa were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nadler Financial Group Inc. raised its stake in Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new position in Visa during the 4th quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Visa during the 4th quarter worth about $3,427,000. Richelieu Gestion SA acquired a new stake in Visa in the fourth quarter worth approximately $307,000. Finally, Cooper Financial Group lifted its holdings in shares of Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on V shares. UBS Group lifted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Mizuho raised their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Evercore ISI upped their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Macquarie increased their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, TD Cowen started coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.76.

Visa Stock Down 0.6 %

Shares of V opened at $275.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The company has a 50-day simple moving average of $273.97 and a 200-day simple moving average of $273.01. Visa Inc. has a 52 week low of $225.50 and a 52 week high of $290.96. The firm has a market capitalization of $503.36 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, equities research analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa Company 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.