Jericho Financial LLP grew its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,412 shares of the credit-card processor’s stock after acquiring an additional 2,279 shares during the period. Visa comprises about 3.8% of Jericho Financial LLP’s investment portfolio, making the stock its 12th biggest holding. Jericho Financial LLP’s holdings in Visa were worth $7,346,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nixon Peabody Trust Co. increased its stake in shares of Visa by 58.1% in the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. boosted its stake in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after acquiring an additional 1,054,343 shares during the last quarter. Beacon Financial Group boosted its stake in 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 acquiring an additional 10,267 shares during the last quarter. Sterling Investment Management LLC grew its holdings in Visa by 43.7% during the 4th quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock worth $6,254,000 after acquiring an additional 5,421 shares in the last quarter. Finally, Pincus Capital Management LP acquired a new position in Visa during the 4th quarter worth $4,278,000. 82.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 21st. Citigroup reissued a “buy” rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Finally, Truist Financial set a $406.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and an average price target of $413.58.
Visa Price Performance
Shares of NYSE:V opened at $371.09 on Monday. The company has a market cap of $662.18 billion, a PE ratio of 31.56, a P/E/G 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 firm has a 50-day simple moving average of $353.73 and a 200 day simple moving average of $329.61. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.
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 analysts’ consensus estimates 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 company posted $2.98 earnings per share. Visa’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 13.16 EPS for the current year.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 22.79%.
Visa announced that its board has authorized a share buyback 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This trade represents a 58.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,759 shares of company stock worth $32,375,779 in the last 90 days. 0.12% of the stock is currently owned by company insiders.
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.
Featured Stories
- Five stocks we like better than Visa
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
