Meadowbrook Advisors Group LLC Purchases Shares of 15,175 Visa Inc. $V

Meadowbrook Advisors Group LLC acquired a new stake in shares of Visa Inc. (NYSE:VFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,175 shares of the credit-card processor’s stock, valued at approximately $5,322,000. Visa makes up about 3.0% of Meadowbrook Advisors Group LLC’s investment portfolio, making the stock its 4th largest position.

Several other hedge funds also recently made changes to their positions in V. Chapman Financial Group LLC boosted its holdings in Visa by 0.9% during the third quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock worth $1,096,000 after buying an additional 30 shares in the last quarter. Ransom Advisory Ltd grew its position in Visa by 0.3% in the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock worth $3,313,000 after buying an additional 30 shares during the last quarter. TSA Wealth Managment LLC increased its holdings in shares of Visa by 4.9% in 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 in the last quarter. Bank OZK lifted its position in shares of Visa by 3.7% during the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock valued at $293,000 after acquiring an additional 31 shares during the last quarter. Finally, FOCUS Wealth Advisors LLC lifted its position in shares of Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated Wednesday, April 29th. The stock was 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 approximately $5,161,284.36. This represents a 67.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the firm’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 sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by insiders.

Visa Trading Up 0.1%

NYSE V opened at $327.67 on Monday. The firm’s 50 day moving average price is $321.23 and its two-hundred day moving average price is $324.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $359.66. The stock 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.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion during 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%.The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 earnings per share. Equities analysts anticipate that Visa Inc. will post 13.09 EPS for the current year.

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

Visa Dividend Announcement

The firm also recently declared 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. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Analysts Set New Price Targets

V has been the subject of several research reports. BMO Capital Markets assumed coverage on Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Citigroup decreased their price target 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, Truist Financial set a $371.00 price objective on Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $387.78.

Check Out Our Latest Report on Visa

Visa News Roundup

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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