Gateway Wealth Partners LLC lifted its holdings in Visa Inc. (NYSE:V – Free Report) by 168.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,470 shares of the credit-card processor’s stock after buying an additional 5,311 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Visa were worth $2,560,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Invariant Investment Management acquired a new stake in Visa in the fourth quarter worth about $969,000. Nixon Peabody Trust Co. increased its stake in Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after buying an additional 1,543 shares during the period. Vanguard Group Inc. raised its position in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. Savvy Advisors Inc. raised its position in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after buying an additional 6,688 shares in the last quarter. Finally, Wealth Enhancement Trust Services Inc. acquired a new stake in shares of Visa in the 4th quarter worth approximately $15,966,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 the firm’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 sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on V
Visa Stock Performance
NYSE:V opened at $362.37 on Tuesday. The company has a 50-day moving average of $338.16 and a 200-day moving average of $325.18. The firm has a market cap of $650.01 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 1.89 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 twelve month low of $293.89 and a twelve month high of $365.14.
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the firm earned $2.76 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Analysts forecast that Visa Inc. will post 13.12 earnings per share for the current fiscal year.
Visa announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Visa Company 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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