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Shares of Visa Inc. (NYSE:V), acquired by Pacific Wealth Strategies Group Inc.


Pacific Wealth Strategies Group Inc. raised its position in Visa Inc. (NYSE:VGet a rating) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,361 shares of the credit card processor’s stock after buying an additional 288 shares during the quarter. Visa makes up 1.1% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 27th biggest position. As of the end of the last quarter, the share of Pacific Wealth Strategies Group Inc. at Visa cost $859,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cross Staff Investments Inc lifted its position in Visa by 0.7% during the 1st quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit card processor’s stock worth $1,508,000 after buying an additional 47 shares in the last quarter. Physicians Financial Services Inc. lifted its position in Visa by 0.3% in the 1st quarter. Now Physicians Financial Services Inc. now owns 19,388 shares of the credit card processor’s stock valued at $4,300,000 after buying an additional 49 shares in the last quarter. Westhampton Capital LLC lifted its position in Visa by 3.4% during the 1st quarter. Westhampton Capital LLC now owns 1,510 shares of the credit card processor’s stock valued at $335,000 after buying an additional 50 shares during the period. Sanders Morris Harris LLC raised its position in Visa by 0.6% during the 2nd quarter. Sanders Morris Harris LLC now owns 9,090 shares of the credit card processor’s stock valued at $1,802,000 after buying an additional 50 shares during the period. Finally, JGP Wealth Management LLC boosted its position in Visa by 1.9% during the 2nd quarter. JGP Wealth Management LLC now owns 2,649 shares of the credit card processor’s stock valued at $533,000 after buying an additional 50 shares during the period. 81.49% of shares are currently owned by institutional investors and hedge funds.

Insider trading

In other news, the CEO Alfred F. Kelly Jr sold 9,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $212.11 for a total value of $1,908,990.00. Following the completion of the sale, the chief executive officer now owns 156,887 shares in the company, valued at approximately $33,277,301.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction amounting to $1,908,990.00. Following the completion of the sale, the chief executive officer now owns 156,887 shares in the company, valued at approximately $33,277,301.57. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at SEC website. In addition, the general director Alfred F. Kelly Jr sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $180.00 for a total amount of $1,080,000.00. Following the sale, the chief executive officer now directly owns 153,887 shares in the company, valued at approximately $27,699,660. Disclosures for this sale can be found here here. 0.21% of shares are currently owned by insiders.

Wall Street analysts predict growth

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of Visa from $284.00 to $291.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Wells Fargo & Company reduced their price objective on shares of Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Macquarie cut their price target on shares of Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Robert W. Baird cut their price target on shares of Visa from $290.00 to $265.00 in a research report on Wednesday, July 20th. Finally, Susquehanna cut their price target on shares of Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and eighteen have given a “buy” rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $257.64, according to MarketBeat.

Visa Price Performance

Actions V opened at $177.65 on Friday. The stock has a market cap of $335.83 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.45 and a beta of 0.90. Visa Inc. has a twelve month low of $174.83 and a twelve month high of $236.96. The company has a 50-day moving average of $202.40 and a 200-day moving average of $206.21. The company has a gearing ratio of 1.43, a current ratio of 1.43, and a debt-to-equity ratio of 0.63.

Visa (NYSE:VGet a rating) last published its quarterly earnings results on Tuesday, July 26th. The credit card processor reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.24. The company had revenue of $7.28 billion for the quarter, compared to analysts’ expectations of $7.06 billion. Visa’s net margin was 51.99% and its return on equity was 46.39%. As a group of equity research analysts predict that Visa Inc. will post 7.43 EPS in the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were paid a $0.375 dividend. That’s $1.50 in annualized dividends and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, August 11th. Visa’s payout ratio is currently 22.12%.

Visa Company Profile

(Get a rating)

Visa Inc operates as a payment technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, enterprises, strategic partners and government agencies. It operates VisaNet, a transaction processing network that provides authorization, payment and settlement for payment transactions.

Further reading

Want to see what other hedge funds hold V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VGet a rating).

Institutional Ownership by Quarter for Visa (NYSE:V)



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https://www.defenseworld.net/2022/10/01/visa-inc-nysev-shares-bought-by-pacific-wealth-strategies-group-inc.html Shares of Visa Inc. (NYSE:V), acquired by Pacific Wealth Strategies Group Inc.

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