4,699 Shares in Visa Inc. $V Acquired by Index Fund Advisors Inc.

Key Points

• Index Fund Advisors Inc. has acquired 4,699 shares of Visa Inc., valued at approximately $1.67 million, indicating growing institutional interest in the credit card processor.
• In the second quarter, several institutional investors have increased their stakes in Visa, with 82.15% of the stock now owned by institutional investors and hedge funds.
• Visa recently reported a quarterly revenue of $10.17 billion and a 14.3% year-over-year increase in revenue, surpassing analyst estimates.

Index Fund Advisors Inc. purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,699 shares of the credit-card processor's stock, valued at approximately $1,668,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Yarger Wealth Strategies LLC raised its stake in Visa by 9.2% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 2,635 shares of the credit-card processor's stock worth $936,000 after buying an additional 222 shares during the period. Sharp Financial Services LLC raised its stake in Visa by 21.1% during the 2nd quarter. Sharp Financial Services LLC now owns 3,162 shares of the credit-card processor's stock worth $1,123,000 after buying an additional 551 shares during the period. CCG Wealth Management LLC raised its stake in Visa by 8.3% during the 2nd quarter. CCG Wealth Management LLC now owns 743 shares of the credit-card processor's stock worth $264,000 after buying an additional 57 shares during the period. Mitchell Sinkler & Starr PA raised its stake in Visa by 3.9% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 4,658 shares of the credit-card processor's stock worth $1,654,000 after buying an additional 175 shares during the period. Finally, Criteria Caixa S.A.U. raised its stake in Visa by 20.3% during the 2nd quarter. Criteria Caixa S.A.U. now owns 69,398 shares of the credit-card processor's stock worth $24,640,000 after buying an additional 11,720 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on V. Barclays reissued an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $389.00.

Visa Stock Performance

V stock opened at $335.01 on Friday. The firm has a market cap of $614.00 billion, a PE ratio of 32.72, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $344.20 and a 200-day moving average of $346.87. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.