24,903 Shares in Visa Inc. $V Purchased by M3 Wealth Management LLC

Key Points

• M3 Wealth Management LLC opened a new position in Visa, buying 24,903 shares worth about $8.7 million in the fourth quarter. The stake now makes up roughly 6.9% of the firm’s portfolio and is its second-largest holding.
• Visa reported strong quarterly results, with earnings of $3.31 per share and revenue of $11.23 billion, both beating analyst expectations. Revenue rose 17.1% year over year, and the company also authorized a $20 billion stock buyback.
• Visa announced a quarterly dividend of $0.67 per share, payable June 1, and analysts remain broadly positive on the stock. The consensus rating is “Buy,” with an average price target of $386.70.

M3 Wealth Management LLC bought a new position in shares of Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,903 shares of the credit-card processor's stock, valued at approximately $8,734,000. Visa makes up about 6.9% of M3 Wealth Management LLC's portfolio, making the stock its 2nd biggest position.

Other institutional investors have also recently bought and sold shares of the company. MTM Investment Management LLC lifted its holdings in shares of Visa by 0.9% in the 3rd quarter. MTM Investment Management LLC now owns 3,344 shares of the credit-card processor's stock worth $1,142,000 after purchasing an additional 30 shares in the last quarter. High Note Wealth LLC increased its position in shares of Visa by 6.8% during the 3rd quarter. High Note Wealth LLC now owns 474 shares of the credit-card processor's stock valued at $162,000 after purchasing an additional 30 shares during the last quarter. Beacon Capital Management LLC increased its position in shares of Visa by 2.0% during the 3rd quarter. Beacon Capital Management LLC now owns 1,541 shares of the credit-card processor's stock valued at $526,000 after purchasing an additional 30 shares during the last quarter. Chapman Financial Group LLC increased its position in shares of Visa by 0.9% during the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor's stock valued at $1,096,000 after purchasing an additional 30 shares during the last quarter. Finally, Ransom Advisory Ltd increased its holdings in Visa by 0.3% in the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor's stock worth $3,313,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 0.5%

NYSE V opened at $327.17 on Wednesday. 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 twelve month low of $293.89 and a twelve month high of $375.51. The firm has a market capitalization of $586.87 billion, a PE ratio of 28.50, a P/E/G ratio of 1.76 and a beta of 0.78. The stock's 50 day moving average is $313.63 and its 200 day moving average is $325.17.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results 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. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the previous year, the company posted $2.76 earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has approved a stock 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 repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa's payout ratio is 23.34%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director directly owned 2,679 shares of the company's stock, valued at approximately $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the business'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 completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 42,744 shares of company stock valued at $14,356,010. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Macquarie Infrastructure restated an "outperform" rating and issued a $410.00 target price on shares of Visa in a research note on Friday, January 30th. TD Cowen reissued a "buy" rating on shares of Visa in a report on Friday, January 30th. Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Truist Financial set a $371.00 target price on Visa and gave the company a "buy" rating in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $386.70.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.