BTC Capital Management Inc. Acquires 2,511 Shares of Visa Inc. $V

BTC Capital Management Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 62.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,501 shares of the credit-card processor’s stock after purchasing an additional 2,511 shares during the quarter. BTC Capital Management Inc.’s holdings in Visa were worth $1,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its position in shares of Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its stake in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after buying an additional 2,230 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $336.96 on Friday. The stock has a market cap of $604.43 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 1.77 and a beta of 0.77. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $359.66. The stock’s 50-day moving average is $323.36 and its 200 day moving average is $324.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS 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 net margin of 51.68% and a return on equity of 65.00%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.76 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. BMO Capital Markets began coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Loop Capital started coverage on Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and set a $389.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Finally, 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. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $387.78.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the company’s 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 sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 that occurred 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 transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Visa Company 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.