Northeast Financial Group Inc. Has $1.39 Million Position in Visa Inc. (NYSE:V)

Northeast Financial Group Inc. lowered its holdings in shares of Visa Inc. (NYSE:V) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,993 shares of the credit-card processor’s stock after selling 161 shares during the quarter. Northeast Financial Group Inc.’s holdings in Visa were worth $1,393,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Alaethes Wealth LLC lifted its holdings in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its holdings in shares of Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners lifted its holdings in shares of Visa by 2.0% during the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after purchasing an additional 39 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares during the last quarter. Finally, Destiny Wealth Partners LLC lifted its holdings in shares of Visa by 2.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 2.6 %

Shares of Visa stock opened at $266.62 on Friday. The firm has a market cap of $487.63 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.87 and a beta of 0.97. The business has a 50-day moving average price of $274.13 and a 200-day moving average price of $273.41. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $226.02 and a twelve month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

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

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Evercore ISI lowered their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank of Canada upped their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

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.