Visa Inc. $V is Clio Asset Management LLC’s 7th Largest Position

Clio Asset Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 10.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,558 shares of the credit-card processor’s stock after purchasing an additional 2,699 shares during the period. Visa makes up 7.5% of Clio Asset Management LLC’s holdings, making the stock its 7th biggest holding. Clio Asset Management LLC’s holdings in Visa were worth $8,934,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at $5,877,738,000. Cardano Risk Management B.V. boosted its holdings in Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after purchasing an additional 7,364,762 shares during the period. J. Stern & Co. LLP grew its stake in Visa by 12,497.1% during the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares in the last quarter. Victory Capital Management Inc. grew its stake in Visa by 48.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock worth $2,282,472,000 after purchasing an additional 2,116,463 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V opened at $336.96 on Friday. The firm has a market capitalization of $604.43 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. The business’s fifty day moving average price is $323.36 and its 200 day moving average price is $324.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa declared that its Board of Directors has initiated a stock repurchase plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

Visa News Summary

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

Analyst Ratings Changes

A number of research firms have issued reports on V. Bank of America began coverage on Visa in a research report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price target on the stock. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. UBS Group boosted their price objective on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and set a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Loop Capital started coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price on the stock. 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 stock. According to MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $387.78.

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by insiders.

Visa 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.