Magnus Financial Group LLC Sells 118 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Magnus Financial Group LLC decreased its position in Visa Inc. (NYSE:V – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,377 shares of the credit-card processor’s stock after selling 118 shares during the period. Magnus Financial Group LLC’s holdings in Visa were worth $4,228,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. National Bank of Canada FI grew its stake in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB bought a new position in Visa in the 1st quarter valued at $511,321,000. GQG Partners LLC increased its position in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. raised its stake in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI lowered their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Oppenheimer assumed coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $313.81.

Read Our Latest Report on V

Visa Price Performance

Shares of NYSE:V traded down $1.39 on Tuesday, hitting $279.29. The company’s stock had a trading volume of 5,806,344 shares, compared to its average volume of 7,106,448. The company has a market capitalization of $510.80 billion, a PE ratio of 31.49, a PEG ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50-day simple moving average of $274.65 and a 200 day simple moving average of $272.63. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07.

Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $2.16 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

About Visa

(Free Report)

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.

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