CFO Capital Management LLC Buys Shares of 3,375 Visa Inc. $V

CFO Capital Management LLC purchased a new position in Visa Inc. (NYSE:VFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,375 shares of the credit-card processor’s stock, valued at approximately $1,184,000.

A number of other hedge funds also recently modified their holdings of V. Clayton Financial Group LLC grew its position 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 purchasing an additional 58 shares during the period. PayPay Securities Corp raised its holdings in Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. acquired a new stake in Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC lifted its stake 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 buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new position in Visa in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

V has been the subject of several research reports. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Loop Capital started coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. UBS Group upped their target price on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Six research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $387.78.

Read Our Latest Report on Visa

Visa Stock Performance

V opened at $327.67 on Friday. The firm has a market capitalization of $587.76 billion, a PE ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. 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 Inc. has a 52-week low of $293.89 and a 52-week high of $359.66. The business’s 50-day simple moving average is $321.23 and its 200 day simple moving average is $324.24.

Visa (NYSE:VGet Free Report) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (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 company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the prior year, the firm earned $2.76 EPS. Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is currently 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 shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Visa

In related news, 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 value of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The stock was 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 in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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