Tulsa Wealth Advisors INC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,903 shares of the credit-card processor's stock, valued at approximately $5,577,000. Visa makes up about 1.9% of Tulsa Wealth Advisors INC's investment portfolio, making the stock its 17th biggest position.
A number of other hedge funds have also modified their holdings of V. Clayton Financial Group LLC raised its position in shares of Visa by 446.2% during 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 boosted its holdings in Visa by 102.7% in 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. bought a new position in Visa in the 4th quarter worth $26,000. Parvin Asset Management LLC increased its stake in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in Visa in the 4th quarter worth $30,000. 82.15% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
V has been the topic of several research analyst reports. Oppenheimer restated an "outperform" rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings downgraded Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Sanford C. Bernstein reissued an "outperform" rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Citigroup dropped their price target on Visa from $450.00 to $400.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Finally, Truist Financial set a $371.00 price objective on shares of Visa and gave the company a "buy" rating in a research report on Tuesday, May 12th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $387.78.
Check Out Our Latest Analysis on V
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the company's 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 of the company's stock, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 the 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 owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by company insiders.
Key Visa News
Here are the key news stories impacting Visa this week:
Visa Stock Performance
NYSE V opened at $327.67 on Friday. 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 fifty-two week low of $293.89 and a fifty-two week high of $359.66. The company has a market cap of $587.76 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.77. The business's 50 day moving average price is $321.23 and its 200-day moving average price is $324.24.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter last year, the business earned $2.76 EPS. The business's revenue was up 17.1% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend payout ratio is presently 23.34%.
Visa declared that its board has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.
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.
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