GPS Wealth Strategies Group LLC Sells 6,271 Shares of Visa Inc. $V

GPS Wealth Strategies Group LLC cut its stake in Visa Inc. (NYSE:VFree Report) by 81.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,472 shares of the credit-card processor’s stock after selling 6,271 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Visa were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the last quarter. Capital World Investors grew its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares during the period. Ameriprise Financial Inc. grew its position in shares of Visa by 4.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock worth $4,475,403,000 after buying an additional 530,995 shares during the period. Legal & General Group Plc grew its position in shares of Visa by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock worth $4,253,224,000 after buying an additional 399,845 shares during the period. Finally, Invesco Ltd. grew its position in shares of Visa by 12.2% during the 3rd quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor’s stock worth $4,067,032,000 after buying an additional 1,298,435 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V opened at $329.21 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The firm’s 50 day moving average price is $312.77 and its two-hundred day moving average price is $325.42. The firm has a market cap of $590.53 billion, a P/E ratio of 28.68, a PEG ratio of 1.77 and a beta of 0.78.

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

Visa announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director directly owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 42,744 shares of company stock valued at $14,356,010. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target for the company. Evercore set a $350.00 price target on shares of Visa in a research report on Wednesday, April 29th. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, BMO Capital Markets assumed coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target for the company. Six analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $387.67.

Get Our Latest Stock Report on Visa

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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