Charles Lim Capital Ltd bought a new position in Visa Inc. (NYSE:V – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 25,000 shares of the credit-card processor’s stock, valued at approximately $8,577,000. Visa accounts for approximately 2.7% of Charles Lim Capital Ltd’s investment portfolio, making the stock its 5th biggest holding.
A number of other hedge funds have also added to or reduced their stakes in the stock. Nixon Peabody Trust Co. raised its position in Visa by 58.1% during the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after purchasing an additional 1,543 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.7% in 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 purchasing an additional 1,054,343 shares in the last quarter. Beacon Financial Group increased its position in shares of Visa by 83.9% during the 1st quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock valued at $6,801,000 after purchasing an additional 10,267 shares during the last quarter. Sterling Investment Management LLC increased its position in shares of Visa by 43.7% during the 4th quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock valued at $6,254,000 after purchasing an additional 5,421 shares during the last quarter. Finally, Pincus Capital Management LP purchased a new position in shares of Visa during the 4th quarter valued at about $4,278,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Insider Buying and Selling at Visa
In other news, 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 transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. 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 90,759 shares of company stock valued at $32,375,779 in the last quarter. Company insiders own 0.12% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on Visa
Visa Stock Performance
Shares of V stock opened at $371.09 on Monday. The company has a market capitalization of $662.18 billion, a P/E ratio of 31.56, a PEG ratio of 1.99 and a beta of 0.74. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $353.73 and a two-hundred day moving average price of $329.61.
Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the business earned $2.98 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. Analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.
Visa declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 22.79%.
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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