Sowa Financial Group Inc. Has $4.25 Million Stock Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

Sowa Financial Group Inc. lessened its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,468 shares of the credit-card processor’s stock after selling 286 shares during the quarter. Visa makes up approximately 2.7% of Sowa Financial Group Inc.’s portfolio, making the stock its 12th largest position. Sowa Financial Group Inc.’s holdings in Visa were worth $4,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc grew its stake in shares of Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Cordatus Wealth Management LLC grew its stake in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares during the last quarter. Tlwm grew its stake in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares during the last quarter. Meridian Financial Partners LLC grew its stake in shares of Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares during the last quarter. Finally, First National Corp MA ADV grew its stake in shares of Visa by 1.0% in the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock worth $1,056,000 after purchasing an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, Oppenheimer started coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong 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 $312.04.

View Our Latest Analysis on Visa

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

Visa Price Performance

NYSE:V opened at $277.84 on Friday. The firm has a market capitalization of $508.15 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The stock has a fifty day moving average of $274.16 and a 200 day moving average of $272.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts expect 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 of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).