Seneca House Advisors increased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 108.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,717 shares of the credit-card processor’s stock after acquiring an additional 6,607 shares during the period. Visa comprises about 1.5% of Seneca House Advisors’ portfolio, making the stock its 23rd largest position. Seneca House Advisors’ holdings in Visa were worth $3,844,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Ransom Advisory Ltd raised its stake in shares of Visa by 0.3% in the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after purchasing an additional 30 shares during the period. Bank OZK grew its holdings in shares of Visa by 3.7% during the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock worth $293,000 after buying an additional 31 shares in the last quarter. FOCUS Wealth Advisors LLC grew its holdings in shares of Visa by 0.4% during the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock worth $2,704,000 after buying an additional 31 shares in the last quarter. Planned Solutions Inc. raised its position in Visa by 2.0% in the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after buying an additional 31 shares during the last quarter. Finally, Frederick Financial Consultants LLC raised its position in Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after buying an additional 31 shares during the last quarter. 82.15% of the stock is owned by institutional investors.
Visa Stock Up 0.2%
V stock traded up $0.85 during mid-day trading on Friday, reaching $349.05. The company had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. The company has a market capitalization of $626.12 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.86 and a beta of 0.75. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The stock has a 50 day simple moving average of $330.81 and a two-hundred day simple moving average of $325.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were 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 was Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.
Visa announced that its board has initiated a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Piper Sandler started coverage on shares of Visa in a report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective on the stock. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Finally, Robert W. Baird set a $412.00 target price on shares of Visa and gave the company an “outperform” rating in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus target price of $397.91.
Get Our Latest Stock Analysis on Visa
Insiders Place Their Bets
In other news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were 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 $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is currently owned by corporate insiders.
About Visa
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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