Madison Asset Management LLC increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,869 shares of the credit-card processor’s stock after buying an additional 34,321 shares during the period. Visa comprises approximately 1.5% of Madison Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Madison Asset Management LLC’s holdings in Visa were worth $117,834,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC raised its position in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp grew its position in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC increased its stake in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in shares of Visa during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction that occurred 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 transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value 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. This trade represents a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Analysis on Visa
Visa Stock Up 0.7%
Shares of NYSE V opened at $361.25 on Tuesday. The stock has a market cap of $648.00 billion, a PE ratio of 31.47, a P/E/G ratio of 1.91 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14. The company has a 50-day moving average of $335.15 and a 200 day moving average of $325.05.
Visa (NYSE:V – Get Free Report) last released its 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 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 business’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the company posted $2.76 EPS. As a group, sell-side analysts predict that Visa Inc. will post 13.11 EPS for the current fiscal year.
Visa announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.
Visa Profile
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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