Greenup Street Wealth Management LLC Grows Stock Position in Visa Inc. $V

Greenup Street Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,718 shares of the credit-card processor’s stock after acquiring an additional 1,562 shares during the period. Greenup Street Wealth Management LLC’s holdings in Visa were worth $3,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Clayton Financial Group LLC lifted its stake in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. PayPay Securities Corp increased its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter worth about $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new stake in Visa in the 4th quarter valued at about $30,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on V. Evercore set a $350.00 target price on shares of Visa in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. UBS Group lifted their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Six 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $387.78.

Insider Activity at Visa

In other news, 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 transaction 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. The trade was a 67.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 business’s 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 transaction, the chief financial officer owned 9,872 shares of the company’s stock, 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 own 0.12% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $336.96 on Friday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66. The firm has a 50 day moving average of $323.36 and a two-hundred day moving average of $324.30. 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 capitalization of $604.43 billion, a PE ratio of 29.35, a P/E/G ratio of 1.77 and a beta of 0.77.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the firm earned $2.76 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Announces Dividend

The company 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 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%.

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Key Visa News

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.