Twin City Private Wealth LLC Boosts Stock Position in Visa Inc. $V

Twin City Private Wealth LLC increased its position in Visa Inc. (NYSE:VFree Report) by 35.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,013 shares of the credit-card processor’s stock after buying an additional 2,118 shares during the quarter. Visa makes up about 1.8% of Twin City Private Wealth LLC’s investment portfolio, making the stock its 20th largest position. Twin City Private Wealth LLC’s holdings in Visa were worth $2,422,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new position in Visa in the 1st quarter worth approximately $37,000. CHICAGO TRUST Co NA grew its holdings in Visa by 31.3% during the 1st quarter. CHICAGO TRUST Co NA now owns 24,900 shares of the credit-card processor’s stock valued at $7,526,000 after buying an additional 5,941 shares in the last quarter. Cassia Capital Partners LLC grew its holdings in Visa by 5.5% during the 1st quarter. Cassia Capital Partners LLC now owns 4,217 shares of the credit-card processor’s stock valued at $1,275,000 after buying an additional 219 shares in the last quarter. Deltec Asset Management LLC raised its position in shares of Visa by 6.6% during the first quarter. Deltec Asset Management LLC now owns 48,403 shares of the credit-card processor’s stock valued at $14,629,000 after buying an additional 3,000 shares during the last quarter. Finally, Barnes Pettey Financial Advisors LLC raised its position in shares of Visa by 10.2% during the first quarter. Barnes Pettey Financial Advisors LLC now owns 2,156 shares of the credit-card processor’s stock valued at $652,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

More Visa News

Here are the key news stories impacting Visa this week:

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% 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. 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 dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 73,554 shares of company stock worth $24,898,255 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Visa Stock Up 2.9%

NYSE:V opened at $361.31 on Friday. The company’s 50-day simple moving average is $326.17 and its 200-day simple moving average is $324.64. 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 fifty-two week low of $293.89 and a fifty-two week high of $362.13. The stock has a market capitalization of $648.10 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.87 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating 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%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 EPS. On average, equities analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target for the company. BMO Capital Markets initiated coverage on Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective on the stock. Piper Sandler initiated coverage on Visa in a report on Monday. They set an “overweight” rating and a $394.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Finally, Oppenheimer reissued an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $397.96.

Read Our Latest Stock Report on V

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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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