Thrivent Financial for Lutherans Purchases 122,070 Shares of Visa Inc. $V

Thrivent Financial for Lutherans boosted its position in shares of Visa Inc. (NYSE:VFree Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,665,453 shares of the credit-card processor’s stock after buying an additional 122,070 shares during the period. Visa makes up about 1.0% of Thrivent Financial for Lutherans’ portfolio, making the stock its 11th biggest holding. Thrivent Financial for Lutherans’ holdings in Visa were worth $584,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Corient Private Wealth LLC boosted its stake in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. Holocene Advisors LP boosted its stake in Visa by 286.4% during the third quarter. Holocene Advisors LP now owns 2,526,026 shares of the credit-card processor’s stock valued at $862,335,000 after buying an additional 1,872,362 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Visa by 121.7% in the 4th quarter. SG Americas Securities LLC now owns 3,022,411 shares of the credit-card processor’s stock valued at $1,059,990,000 after purchasing an additional 1,658,954 shares during the last quarter. Danske Bank A S bought a new stake in shares of Visa in the 3rd quarter valued at approximately $565,684,000. Finally, Capital Research Global Investors lifted its stake in shares of Visa by 73.4% in the 3rd quarter. Capital Research Global Investors now owns 3,197,405 shares of the credit-card processor’s stock valued at $1,091,528,000 after purchasing an additional 1,353,441 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.6%

V opened at $322.11 on Friday. The stock’s fifty day moving average is $311.10 and its two-hundred day moving average is $325.89. The company has a market capitalization of $577.80 billion, a P/E ratio of 28.06, a PEG ratio of 1.71 and a beta of 0.78. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $375.51. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $2.76 EPS. Analysts forecast that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Visa announced that its board has authorized a share buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. BMO Capital Markets began coverage on Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Truist Financial set a $371.00 price objective on Visa and gave the company a “buy” rating in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research note on Friday, January 30th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $410.00 price objective on shares of Visa in a research note on Friday, January 30th. Finally, Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Visa has an average rating of “Buy” and a consensus target price of $387.67.

Get Our Latest Stock Report on Visa

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 42,744 shares of company stock valued at $14,356,010 in the last quarter. 0.12% of the stock is currently owned by corporate insiders.

Trending Headlines about Visa

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Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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