Attestor Capital Ltd Acquires Shares of 53,700 Visa Inc. $V

Attestor Capital Ltd bought a new position in shares of Visa Inc. (NYSE:VFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 53,700 shares of the credit-card processor’s stock, valued at approximately $18,833,000. Visa accounts for 8.9% of Attestor Capital Ltd’s investment portfolio, making the stock its 4th biggest position.

Several other large investors have also recently modified their holdings of V. Brighton Jones LLC boosted its holdings in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its position in shares of Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after acquiring an additional 2,230 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $327.67 on Friday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $359.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $587.76 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77. The stock has a 50-day moving average price of $320.85 and a 200-day moving average price of $324.21.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for 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%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. As a group, equities analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is 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 paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is currently 23.34%.

More Visa News

Here are the key news stories impacting Visa this week:

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of Visa 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 directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on V shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Loop Capital assumed coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price for the company. UBS Group raised their target price on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Citigroup reduced their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $387.78.

Read Our Latest Analysis 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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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