71 West Capital Partners Makes New $3.13 Million Investment in Visa Inc. $V

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Key Points

  • 71 West Capital Partners opened a new position in Visa during the fourth quarter, buying 8,911 shares valued at about $3.13 million.
  • Several other institutional investors also added to or initiated stakes in Visa, and hedge funds and other institutions now own 82.15% of the company.
  • Visa reported strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both ahead of estimates, while also authorizing a $20 billion share repurchase program.
  • Five stocks to consider instead of Visa.

71 West Capital Partners bought a new position in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,911 shares of the credit-card processor's stock, valued at approximately $3,125,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alberta Investment Management Corp raised its holdings in shares of Visa by 0.8% during the fourth quarter. Alberta Investment Management Corp now owns 39,800 shares of the credit-card processor's stock valued at $13,958,000 after acquiring an additional 300 shares during the last quarter. Capital Financial Group Inc. Co. ADV acquired a new position in shares of Visa in the fourth quarter valued at approximately $1,085,000. University of Texas Texas AM Investment Management Co. increased its stake in Visa by 282.0% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 2,437 shares of the credit-card processor's stock worth $855,000 after buying an additional 1,799 shares during the period. Innovative Wealth Building LLC raised its holdings in Visa by 23.9% during the fourth quarter. Innovative Wealth Building LLC now owns 850 shares of the credit-card processor's stock worth $298,000 after purchasing an additional 164 shares in the last quarter. Finally, LFG Wealth Partners LLC acquired a new position in Visa in the fourth quarter valued at $459,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. BMO Capital Markets initiated coverage on Visa in a research report on Tuesday, April 21st. They set an "outperform" rating and a $365.00 price objective for the company. Raymond James Financial reissued an "outperform" rating and issued a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. UBS Group upped their price target 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. Finally, Citigroup cut their target price on Visa from $450.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $387.78.

Read Our Latest Report on Visa

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were 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 approximately $5,161,284.36. This represents a 67.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company's stock.

Visa Stock Up 2.9%

V stock opened at $333.08 on Wednesday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The firm has a market cap of $597.47 billion, a PE ratio of 29.01, a P/E/G ratio of 1.73 and a beta of 0.77. The firm has a 50 day simple moving average of $319.80 and a 200 day simple moving average of $324.29. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same period in the prior year, the firm earned $2.76 earnings per share. The business's quarterly revenue was up 17.1% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa's dividend payout ratio is currently 23.34%.

Visa announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

Visa 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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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