Cibc World Market Inc. lessened its holdings in Visa Inc. (NYSE:V – Free Report) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 921,703 shares of the credit-card processor’s stock after selling 25,924 shares during the period. Cibc World Market Inc.’s holdings in Visa were worth $316,227,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Cresta Advisors Ltd. purchased a new position in shares of Visa in the 4th quarter worth $26,000. Parvin Asset Management LLC raised its position in shares of Visa by 200.0% during the 3rd 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. Virtus Advisers LLC purchased a new stake in shares of Visa during the 2nd quarter valued at about $33,000. RHL Group LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $34,000. Finally, Timmons Wealth Management LLC bought a new position in shares of Visa in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Insider Activity at Visa
In related news, 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 $18,125,140.14. This trade represents a 53.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,490 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This trade represents a 40.87% 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. Insiders sold 90,759 shares of company stock worth $32,375,779 in the last 90 days. 0.12% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on Visa
Visa Stock Performance
Shares of Visa stock opened at $371.09 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average is $353.73 and its two-hundred day moving average is $329.61. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $373.97. The company has a market capitalization of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $2.98 earnings per share. As a group, analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.
Visa announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Visa Announces Dividend
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 paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.79%.
Visa 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.
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