Clearwave Capital LLC Invests $861,000 in Visa Inc. $V

Clearwave Capital LLC purchased a new position in Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,455 shares of the credit-card processor’s stock, valued at approximately $861,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Brighton Jones LLC raised its position in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. 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 position in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its stake in Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its stake in Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after acquiring an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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Visa Price Performance

Shares of NYSE:V opened at $327.67 on Friday. The company 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. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $321.23 and a 200 day simple moving average of $324.24. Visa Inc. has a one year low of $293.89 and a one year high of $359.66.

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, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.76 earnings per share. Research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has approved a stock repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Visa Dividend Announcement

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

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was 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 owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on V shares. Evercore set a $350.00 target price on Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Citigroup dropped their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $387.78.

Check Out Our Latest Report on Visa

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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