Visa Inc. $V Shares Bought by Corundum Group Inc.

Corundum Group Inc. grew its stake in Visa Inc. (NYSE:V) by 33.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,906 shares of the credit-card processor’s stock after purchasing an additional 1,490 shares during the quarter. Corundum Group Inc.’s holdings in Visa were worth $1,785,000 as of its most recent filing with the SEC.

Several other large investors have also 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 worth $25,000 after acquiring an additional 58 shares in the last quarter. PayPay Securities Corp increased its holdings 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 last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter valued at approximately $26,000. Parvin Asset Management LLC raised its position in shares of Visa by 200.0% during 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 in the last quarter. Finally, Dorato Capital Management bought a new position in Visa during the fourth quarter worth $30,000. Institutional investors own 82.15% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Bank of America started coverage on shares of Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price target for the company. Citigroup lowered their price target 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. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Finally, 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 report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Visa has an average rating of “Buy” and a consensus target price of $387.78.

Insider Activity at Visa

In other Visa news, 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 transaction of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale 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 Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade 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.

Visa Stock Performance

Shares of V opened at $336.96 on Friday. The firm has a market capitalization of $604.43 billion, a PE ratio of 29.35, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $323.36 and a 200 day moving average price of $324.30. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 EPS. On average, sell-side analysts anticipate 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. Investors of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Visa declared that its board has initiated a share repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase 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 shares are undervalued.

Visa Profile

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.