Visa Inc. $V Shares Sold by Genus Capital Management Inc.

Genus Capital Management Inc. lessened its holdings in shares of Visa Inc. (NYSE:VFree Report) by 65.7% during the fourth quarter, HoldingsChannel reports. The fund owned 9,767 shares of the credit-card processor’s stock after selling 18,715 shares during the period. Genus Capital Management Inc.’s holdings in Visa were worth $3,425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Redstone Wealth Management LLC acquired a new position in Visa during the fourth quarter worth $284,000. HBK Sorce Advisory LLC grew its holdings in Visa by 3.4% during the fourth quarter. HBK Sorce Advisory LLC now owns 23,818 shares of the credit-card processor’s stock worth $7,897,000 after acquiring an additional 788 shares during the period. Allen Capital Group LLC grew its holdings in Visa by 4.6% during the fourth quarter. Allen Capital Group LLC now owns 3,600 shares of the credit-card processor’s stock worth $1,262,000 after acquiring an additional 159 shares during the period. Wealthquest Corp acquired a new position in Visa during the fourth quarter worth $751,000. Finally, Kuhn & Co Investment Counsel grew its holdings in Visa by 0.5% during the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock worth $2,138,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1%

Visa stock opened at $329.21 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $590.53 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The stock’s fifty day moving average is $312.77 and its two-hundred day moving average is $325.34.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.76 earnings per share. Analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend 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 (DPR) is presently 23.34%.

Visa announced that its board has approved a share repurchase plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. TD Cowen reaffirmed a “buy” rating on shares of Visa in a report on Friday, January 30th. Loop Capital began coverage on Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective on the stock. Citigroup dropped their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Piper Sandler set a $160.00 target price on Visa in a report on Wednesday, January 28th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $387.67.

Read Our Latest Analysis on Visa

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The stock was 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. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,744 shares of company stock valued at $14,356,010 over the last quarter. Insiders own 0.12% of the company’s stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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