Keudell Morrison Wealth Management Makes New Investment in Visa Inc. $V

Keudell Morrison Wealth Management bought a new position in Visa Inc. (NYSE:VFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,400 shares of the credit-card processor’s stock, valued at approximately $3,998,000. Visa comprises about 0.8% of Keudell Morrison Wealth Management’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC raised its position in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares in the last quarter. Holocene Advisors LP increased its position in Visa by 286.4% during the third quarter. Holocene Advisors LP now owns 2,526,026 shares of the credit-card processor’s stock worth $862,335,000 after acquiring an additional 1,872,362 shares during the period. SG Americas Securities LLC raised its position in shares of Visa by 121.7% during the fourth quarter. SG Americas Securities LLC now owns 3,022,411 shares of the credit-card processor’s stock valued at $1,059,990,000 after buying an additional 1,658,954 shares during the last quarter. Danske Bank A S acquired a new position in Visa in the 3rd quarter valued at approximately $565,684,000. Finally, Capital Research Global Investors grew its holdings in shares of Visa by 73.4% during the 3rd quarter. Capital Research Global Investors now owns 3,197,405 shares of the credit-card processor’s stock worth $1,091,528,000 after purchasing an additional 1,353,441 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V opened at $331.28 on Friday. The stock has a market cap of $594.23 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.77 and a beta of 0.78. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51. The stock’s 50-day moving average price is $312.36 and its two-hundred day moving average price is $325.40. 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 (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the company posted $2.76 EPS. On average, equities analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.67 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 23.34%.

Visa declared that its board has approved a share buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Visa News Summary

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. Citigroup reduced their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Oppenheimer reissued an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. UBS Group raised their price target on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, BMO Capital Markets started coverage on Visa in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $387.67.

Check Out Our Latest Research Report on Visa

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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