Azzad Asset Management Inc. ADV Acquires 4,028 Shares of Visa Inc. $V

Azzad Asset Management Inc. ADV boosted its holdings in shares of Visa Inc. (NYSE:VFree Report) by 29.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,627 shares of the credit-card processor’s stock after purchasing an additional 4,028 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Visa were worth $5,327,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Clayton Financial Group LLC raised its stake in shares of Visa by 446.2% in the fourth 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 period. PayPay Securities Corp boosted its position in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in shares of Visa during the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management bought a new position in Visa in the 4th quarter valued at $30,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

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 transaction of $3,455,653.59. Following the sale, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa 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 transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,219,704.26. This represents a 40.87% 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. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Stock Performance

V stock opened at $347.57 on Friday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.02. The business has a 50-day moving average price of $330.52 and a 200 day moving average price of $324.88. The company has a market capitalization of $623.46 billion, a P/E ratio of 30.28, a PEG ratio of 1.86 and a beta of 0.75. 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 (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the firm posted $2.76 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa declared that its board has approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

The firm also recently disclosed 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 of this dividend 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 23.34%.

Analyst Ratings Changes

Several analysts have recently weighed in on V shares. Barclays assumed coverage on Visa in a research report on Tuesday. They set an “overweight” rating and a $420.00 target price for the company. UBS Group upped their price target on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $397.91.

Read Our Latest Report on V

Visa Profile

(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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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