Gunpowder Capital Management LLC dba Oliver Wealth Management Buys New Stake in Visa Inc. $V

Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Visa Inc. (NYSE:VFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,680 shares of the credit-card processor’s stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also made changes to their positions in V. Storen Legacy Partners LLC purchased a new position in shares of Visa in the 4th quarter valued at about $208,000. Worthington Financial Partners LLC purchased a new stake in Visa during the fourth quarter worth approximately $1,007,000. Bayban purchased a new stake in Visa during the fourth quarter worth approximately $1,139,000. Taylor Securities Services Inc. acquired a new position in Visa in the fourth quarter valued at approximately $2,327,000. Finally, AG Campbell Advisory LLC acquired a new position in Visa in the fourth quarter valued at approximately $929,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. Citigroup dropped their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. UBS Group lifted their price target 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. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $387.78.

Get Our Latest Stock Report on Visa

Insider Buying and Selling at Visa

In related news, CFO Chris Suh sold 10,639 shares of the stock in a transaction on Tuesday, May 12th. The shares were 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 in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by corporate insiders.

Key Visa News

Here are the key news stories impacting Visa this week:

Visa Trading Up 0.1%

V opened at $327.67 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66. The business’s 50 day moving average is $321.23 and its two-hundred day moving average is $324.24. The firm has a market cap of $587.76 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.

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, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 earnings per share. On average, research analysts predict that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is 23.34%.

Visa declared that its Board of Directors has initiated 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 buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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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