Zhang Financial LLC Raises Stock Position in Visa Inc. $V

Zhang Financial LLC grew its stake in shares of Visa Inc. (NYSE:VFree Report) by 30.5% during the first quarter, HoldingsChannel reports. The firm owned 8,032 shares of the credit-card processor’s stock after buying an additional 1,879 shares during the period. Zhang Financial LLC’s holdings in Visa were worth $2,427,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Clayton Financial Group LLC lifted its holdings in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after buying an additional 58 shares in the last quarter. PayPay Securities Corp lifted its holdings in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. bought a new stake in Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC raised its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in shares of Visa during the 4th quarter worth about $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Loop Capital started coverage on Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective for the company. Barclays initiated coverage on shares of Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Evercore set a $350.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Truist Financial set a $371.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $398.36.

View Our Latest Stock Analysis on V

Visa Stock Down 1.8%

V opened at $358.51 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $643.08 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.95 and a beta of 0.75. The business has a 50 day moving average of $334.41 and a 200-day moving average of $325.20. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14.

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, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the prior year, the business earned $2.76 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 13.11 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is 23.34%.

Visa declared that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the 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 $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% 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. Insiders have sold a total of 75,581 shares of company stock valued at $25,627,975 over the last quarter. 0.12% of the stock is owned by company insiders.

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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