Bleakley Financial Group LLC Has $21.78 Million Stake in Visa Inc. $V

Bleakley Financial Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,110 shares of the credit-card processor’s stock after purchasing an additional 2,060 shares during the quarter. Bleakley Financial Group LLC’s holdings in Visa were worth $21,782,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in V. Clayton Financial Group LLC boosted its holdings in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. PayPay Securities Corp grew its position in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in shares of Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC grew its position in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in shares of Visa in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price objective on shares of Visa in a research report on Friday, January 30th. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Finally, Loop Capital began coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective for the company. Six research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $387.67.

Insider Activity

In other news, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the transaction, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the 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 $5,161,284.36. The trade was 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. Insiders have sold 42,744 shares of company stock valued at $14,356,010 over the last ninety days. 0.12% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V opened at $329.21 on Tuesday. The firm has a market capitalization of $590.53 billion, a PE ratio of 28.68, a PEG ratio of 1.76 and a beta of 0.78. The company’s 50-day moving average is $313.23 and its 200-day moving average is $325.27. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. 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:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 earnings per share. Equities analysts forecast that Visa Inc. will post 13.09 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 23.34%.

Visa declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Visa

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.