Visa Inc. $V Shares Sold by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. decreased its stake in shares of Visa Inc. (NYSE:VFree Report) by 9.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 14,050 shares of the credit-card processor’s stock after selling 1,450 shares during the period. Visa accounts for approximately 4.4% of Watershed Asset Management L.L.C.’s portfolio, making the stock its 2nd biggest position. Watershed Asset Management L.L.C.’s holdings in Visa were worth $4,246,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC grew its position in shares of Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after buying an additional 58 shares in the last quarter. PayPay Securities Corp raised its holdings in Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. Cresta Advisors Ltd. acquired a new stake in Visa in the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC lifted its stake in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in Visa in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, 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. In the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

V stock opened at $358.51 on Friday. The business has a 50 day moving average price of $334.41 and a 200 day moving average price of $325.20. 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 stock has a market cap of $643.08 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 1.95 and a beta of 0.75. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.14.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the prior year, the firm posted $2.76 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 13.11 earnings per share for the current fiscal year.

Visa announced that its board has authorized a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is presently 23.34%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Loop Capital initiated coverage on shares of Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective for the company. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a report on Monday, July 6th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Buy” and a consensus price target of $398.36.

View Our Latest Stock Report on Visa

Key Stories Impacting Visa

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Visa 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

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Institutional Ownership by Quarter for Visa (NYSE:V)

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