Visa Inc. $V Shares Bought by Zhang Financial LLC

Zhang Financial LLC grew its stake in shares of Visa Inc. (NYSE:V) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,261 shares of the credit-card processor’s stock after acquiring an additional 435 shares during the quarter. Zhang Financial LLC’s holdings in Visa were worth $2,223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new stake in Visa during the 1st quarter worth approximately $3,518,533,000. Vanguard Group Inc. increased its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP increased its position in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Visa during the 1st quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 1.0%

Shares of NYSE:V opened at $344.53 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $287.19 and a 52-week high of $375.51. The company has a 50 day moving average of $344.94 and a two-hundred day moving average of $348.27. The company has a market capitalization of $631.44 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company earned $2.71 earnings per share. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is 23.11%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on V shares. Macquarie dropped their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday. Robert W. Baird set a $425.00 price objective on Visa in a research report on Wednesday. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Finally, Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is currently 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.