Goodman Advisory Group LLC reduced its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 35.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,867 shares of the credit-card processor’s stock after selling 3,835 shares during the quarter. Goodman Advisory Group LLC’s holdings in Visa were worth $2,075,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Invariant Investment Management acquired a new stake in Visa during the fourth quarter worth approximately $969,000. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. Swiss Life Asset Management Ltd grew its position in shares of Visa by 4.7% in the third quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock valued at $180,088,000 after purchasing an additional 23,863 shares during the last quarter. Savvy Advisors Inc. grew its position in shares of Visa by 30.1% in the fourth quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after purchasing an additional 6,688 shares during the last quarter. Finally, Ticino Wealth acquired a new position in shares of Visa in the fourth quarter valued at approximately $1,837,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Visa news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.12% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on V
Visa Stock Up 0.2%
Shares of V opened at $336.96 on Monday. 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 Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The firm’s 50 day moving average is $323.36 and its 200-day moving average is $324.29. The stock has a market capitalization of $604.43 billion, a PE ratio of 29.35, a P/E/G ratio of 1.80 and a beta of 0.77.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 earnings per share. Equities research analysts forecast that Visa Inc. will post 13.09 EPS for the current year.
Visa declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Visa Dividend Announcement
The company also recently disclosed 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. 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 dividend payout ratio is currently 23.34%.
More 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 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.
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