Visa Inc. $V Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:VFree Report) by 77.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 764 shares of the credit-card processor’s stock after selling 2,582 shares during the period. Gallacher Capital Management LLC’s holdings in Visa were worth $231,000 as of its most recent SEC filing.

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

Visa Stock Performance

V opened at $358.51 on Friday. The company has a market cap of $643.08 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. The stock has a 50-day moving average of $334.41 and a 200-day moving average of $325.20. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $365.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.75 billion. During the same period last year, the business earned $2.76 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 13.11 earnings per share for the current fiscal year.

Visa announced that its board has initiated a share buyback 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 purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa 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 transaction, the chief executive officer 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,581 shares of company stock worth $25,627,975 over the last 90 days. Insiders own 0.12% of the company’s stock.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

A number of analysts have commented on V shares. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a report on Monday, July 6th. Raymond James Financial reiterated an “outperform” rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Evercore set a $350.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Finally, Citigroup decreased their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $398.36.

Read Our Latest Analysis on V

Visa Company 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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