Boothbay Fund Management LLC Purchases Shares of 42,763 Visa Inc. $V

Boothbay Fund Management LLC purchased a new stake in shares of Visa Inc. (NYSE:VFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,763 shares of the credit-card processor’s stock, valued at approximately $14,997,000.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted 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 valued at $56,455,834,000 after buying an additional 1,054,343 shares during the period. State Street Corp increased its holdings in shares of Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after buying an additional 626,821 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after buying an additional 716,218 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after purchasing an additional 193,288 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Visa stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company’s stock.

Visa Price Performance

V opened at $330.42 on Thursday. The company has a fifty day moving average price of $320.34 and a two-hundred day moving average price of $324.26. The firm has a market capitalization of $592.69 billion, a PE ratio of 28.78, a P/E/G ratio of 1.78 and a beta of 0.77. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66. 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 (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $2.76 earnings per share. As a group, analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

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

Visa News Summary

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

A number of analysts recently weighed in on V shares. Truist Financial set a $371.00 price target on shares of Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Evercore set a $350.00 price target on shares of Visa in a report on Wednesday, April 29th. Citigroup lowered their price target on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, BMO Capital Markets assumed coverage on shares of Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target for the company. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average price target of $387.78.

Read Our Latest Stock Report on Visa

Visa 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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