Main Street Financial Solutions LLC Sells 3,033 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 11th, 2023

Main Street Financial Solutions LLC reduced its stake in Visa Inc. (NYSE:V – Get Rating) by 44.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,749 shares of the credit-card processor’s stock after selling 3,033 shares during the period. Visa makes up about 0.9% of Main Street Financial Solutions LLC’s holdings, making the stock its 27th largest holding. Main Street Financial Solutions LLC’s holdings in Visa were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Visa by 1,778.8% during the 4th quarter. International Assets Investment Management LLC now owns 238,568 shares of the credit-card processor’s stock valued at $3,820,000 after purchasing an additional 225,870 shares in the last quarter. Barnes Pettey Financial Advisors LLC bought a new stake in Visa during the fourth quarter valued at $362,000. MV Capital Management Inc. grew its position in Visa by 3.5% during the fourth quarter. MV Capital Management Inc. now owns 14,921 shares of the credit-card processor’s stock worth $3,100,000 after buying an additional 504 shares in the last quarter. Center for Financial Planning Inc. increased its stake in Visa by 10.8% in the 4th quarter. Center for Financial Planning Inc. now owns 1,425 shares of the credit-card processor’s stock worth $296,000 after acquiring an additional 139 shares during the last quarter. Finally, Boston Financial Mangement LLC raised its holdings in shares of Visa by 0.4% in the 4th quarter. Boston Financial Mangement LLC now owns 279,263 shares of the credit-card processor’s stock valued at $58,020,000 after acquiring an additional 1,129 shares in the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.2 %

Shares of NYSE V opened at $226.43 on Tuesday. The stock has a market capitalization of $425.91 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 1.77 and a beta of 0.96. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $234.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $223.68 and its 200-day moving average price is $211.40.

Visa (NYSE:V – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.81 EPS. On average, equities research analysts anticipate that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.79%. This is an increase from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s dividend payout ratio is presently 25.17%.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 18th. Oppenheimer upped their target price on shares of Visa from $210.00 to $237.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Wells Fargo & Company upped their price objective on Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Finally, Credit Suisse Group raised their price objective on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $259.11.

Insider Buying and Selling

In other news, insider Rajat Taneja sold 61,721 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the transaction, the general counsel now directly owns 4,583 shares in the company, valued at approximately $1,003,677. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders have sold 133,115 shares of company stock valued at $30,115,598 in the last ninety days. 0.21% of the stock is owned by company insiders.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).