Monumental Financial Group Inc. Has $1.49 Million Stock Position in Visa Inc. (NYSE:V)

Monumental Financial Group Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,336 shares of the credit-card processor’s stock after selling 167 shares during the quarter. Visa accounts for 0.8% of Monumental Financial Group Inc.’s holdings, making the stock its 19th biggest holding. Monumental Financial Group Inc.’s holdings in Visa were worth $1,489,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of V. Occidental Asset Management LLC lifted its position in shares of Visa by 7.9% during the 1st quarter. Occidental Asset Management LLC now owns 13,413 shares of the credit-card processor’s stock worth $3,743,000 after buying an additional 980 shares during the last quarter. Independence Bank of Kentucky raised its position in Visa by 9.0% in the first quarter. Independence Bank of Kentucky now owns 21,757 shares of the credit-card processor’s stock valued at $6,072,000 after purchasing an additional 1,803 shares during the last quarter. OneAscent Financial Services LLC raised its position in Visa by 1.3% in the first quarter. OneAscent Financial Services LLC now owns 6,435 shares of the credit-card processor’s stock valued at $1,796,000 after purchasing an additional 85 shares during the last quarter. Webster Bank N. A. raised its position in Visa by 1.7% in the first quarter. Webster Bank N. A. now owns 43,445 shares of the credit-card processor’s stock valued at $12,125,000 after purchasing an additional 709 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. raised its position in Visa by 5.7% in the first quarter. Astoria Portfolio Advisors LLC. now owns 4,710 shares of the credit-card processor’s stock valued at $1,278,000 after purchasing an additional 256 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Wedbush raised their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group raised their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their price objective on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Stock Down 1.5 %

Shares of NYSE:V opened at $262.47 on Friday. The stock has a market cap of $480.04 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.80 and a beta of 0.97. 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 12-month low of $227.68 and a 12-month high of $290.96. The business’s 50 day moving average is $273.88 and its 200 day moving average is $273.50.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for 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%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

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 dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% 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.