Lansforsakringar Fondforvaltning AB publ raised its holdings in Visa Inc. (NYSE:V – Free Report) by 2.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 752,030 shares of the credit-card processor’s stock after acquiring an additional 16,868 shares during the period. Visa accounts for 1.2% of Lansforsakringar Fondforvaltning AB publ’s holdings, making the stock its 13th biggest holding. Lansforsakringar Fondforvaltning AB publ’s holdings in Visa were worth $227,292,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after purchasing an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after purchasing an additional 2,230 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Loop Capital began coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. UBS Group lifted their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, BMO Capital Markets began coverage on Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target for the company. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $397.96.
Visa News Roundup
Here are the key news stories impacting Visa this week:
- Positive Sentiment: Visa is participating in the launch of the Open USD stablecoin initiative alongside major players like Stripe, Google, and BlackRock, a sign that the company is staying central to the next wave of digital payments and money movement. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
- Positive Sentiment: Visa’s new travel platform expansion and cross-border partnership push could support transaction growth, especially as travel and experience spending remain strong. Visa redefines its role in travel with the global expansion of Visa Destinations
- Positive Sentiment: Visa said online deal hunting is helping consumers keep spending on discretionary purchases, which is encouraging for payment volume trends. Visa Says Online Deal Hunting Sustains Consumers’ Discretionary Spending
- Neutral Sentiment: Visa also unveiled smartphone-based tools for small businesses to accept payments through Visa Pay, Visa Accept and Visa Direct, which supports its long-term growth story but is more incremental near term. Visa Brings Card Acceptance to SMB Smartphones
- Negative Sentiment: CEO Ryan McInerney sold 20,970 shares in a pre-arranged transaction, which can create a small amount of investor caution even though it was conducted under a 10b5-1 plan. SEC filing for CEO stock sale
Insider Buying and Selling at Visa
In other news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated 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 completion of the transaction, the chief financial officer directly 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated 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 directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 63,064 shares of company stock worth $21,289,800 over the last 90 days. 0.12% of the stock is currently owned by company insiders.
Visa Price Performance
V opened at $342.63 on Wednesday. The company has a market capitalization of $614.60 billion, a P/E ratio of 29.85, a PEG ratio of 1.82 and a beta of 0.77. The company has a 50-day moving average of $324.40 and a 200-day moving average of $324.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $359.66.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 13.09 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.
Visa announced that its Board of Directors has authorized a share repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
About Visa
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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