Abel Hall LLC Increases Position in Visa Inc. $V

Abel Hall LLC grew its position in Visa Inc. (NYSE:VFree Report) by 126.0% during the first quarter, Holdings Channel.com reports. The firm owned 5,554 shares of the credit-card processor’s stock after acquiring an additional 3,096 shares during the period. Abel Hall LLC’s holdings in Visa were worth $1,679,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Clayton Financial Group LLC increased its holdings 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 acquiring an additional 58 shares during the last quarter. PayPay Securities Corp lifted its stake in Visa by 102.7% during the fourth 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. purchased a new stake in Visa during the fourth quarter worth approximately $26,000. Parvin Asset Management LLC boosted its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in Visa in the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 1.4%

Shares of NYSE:V opened at $357.22 on Tuesday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.02. 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 firm’s 50-day simple moving average is $327.17 and its 200-day simple moving average is $324.74. The company has a market cap of $640.77 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.93 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa announced that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Visa Announces Dividend

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

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Insider Activity

In other Visa news, CFO Chris Suh sold 10,639 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their position. 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. Insiders sold 75,581 shares of company stock valued at $25,627,975 in the last three months. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Robert W. Baird set a $412.00 price objective on Visa and gave the stock an “outperform” rating in a report on Monday. Finally, Oppenheimer reissued an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $397.39.

Read Our Latest Research Report on V

About Visa

(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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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