XXEC Inc. Has $7.41 Million Stock Holdings in Visa Inc. $V

XXEC Inc. reduced its holdings in Visa Inc. (NYSE:VFree Report) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,140 shares of the credit-card processor’s stock after selling 3,019 shares during the quarter. Visa makes up approximately 7.2% of XXEC Inc.’s holdings, making the stock its 5th largest holding. XXEC Inc.’s holdings in Visa were worth $7,414,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of V. Clayton Financial Group LLC raised its position in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. PayPay Securities Corp grew its holdings in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Visa in the fourth quarter valued at $26,000. Parvin Asset Management LLC increased its stake in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new position in shares of Visa in the fourth quarter valued at about $30,000. 82.15% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets started coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $387.78.

Read Our Latest Research Report on Visa

Visa Price Performance

Shares of V stock opened at $327.67 on Friday. The stock has a 50-day moving average price of $321.23 and a 200 day moving average price of $324.24. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market cap of $587.76 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The company 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%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.76 EPS. Research analysts expect that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

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

Visa announced that its board has approved a share 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.12% of the company’s stock.

About Visa

(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

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Institutional Ownership by Quarter for Visa (NYSE:V)

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