Militia Capital Management LLC acquired a new position in shares of Visa Inc. (NYSE:V – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,073 shares of the credit-card processor’s stock, valued at approximately $2,440,000.
Several other large investors have also made changes to their positions in V. FOCUS Wealth Advisors LLC boosted its stake in shares of Visa by 0.4% in the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after purchasing an additional 31 shares during the last quarter. Planned Solutions Inc. boosted its position in shares of Visa by 2.0% in the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter. Frederick Financial Consultants LLC grew its position in shares of Visa by 2.0% during the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after buying an additional 31 shares during the period. Spinnaker Investment Group LLC increased its stake in shares of Visa by 3.0% in the 4th quarter. Spinnaker Investment Group LLC now owns 1,088 shares of the credit-card processor’s stock valued at $382,000 after acquiring an additional 32 shares during the last quarter. Finally, Kuhn & Co Investment Counsel grew its holdings in Visa by 0.5% during the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $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 SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last ninety days. 0.12% of the stock is owned by insiders.
Visa Stock Performance
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm 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 revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. As a group, research analysts anticipate that Visa Inc. will post 13.13 EPS for the current year.
Visa announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management 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 issued 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 is 23.34%.
Analyst Ratings Changes
V has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $387.00 target price (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Piper Sandler began coverage on Visa in a research report on Monday, June 29th. They set an “overweight” rating and a $394.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating and issued a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Finally, Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Eight analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $398.36.
Read Our Latest Report on Visa
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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