Visa Inc. $V Shares Sold by XXEC Inc.

XXEC Inc. trimmed its holdings in Visa Inc. (NYSE:VFree Report) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,140 shares of the credit-card processor’s stock after selling 3,019 shares during the quarter. Visa accounts for 7.2% of XXEC Inc.’s portfolio, making the stock its 5th largest holding. XXEC Inc.’s holdings in Visa were worth $7,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chapman Financial Group LLC grew its position in Visa by 0.9% in the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock worth $1,096,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd raised its position in shares of Visa by 0.3% during the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after buying an additional 30 shares during the last quarter. TSA Wealth Managment LLC raised its position in shares of Visa by 4.9% during the third quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock valued at $225,000 after buying an additional 31 shares during the last quarter. Bank OZK lifted its stake in shares of Visa by 3.7% in the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock valued at $293,000 after buying an additional 31 shares during the period. Finally, FOCUS Wealth Advisors LLC lifted its stake in shares of Visa by 0.4% in the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa 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 transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was 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. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on V shares. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Evercore set a $350.00 price objective on Visa in a report on Wednesday, April 29th. UBS Group boosted their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Bank of America started coverage on Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price for the company. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $387.78.

Read Our Latest Report on Visa

Key Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Performance

NYSE V opened at $327.67 on Friday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $359.66. 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 $587.76 billion, a P/E ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. The company’s 50-day simple moving average is $321.23 and its 200 day simple moving average is $324.24.

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, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion during 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 for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 earnings per share. As a group, research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Visa Announces Dividend

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

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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