Tempo Wealth LLC 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 filing with the SEC. The fund purchased 7,823 shares of the credit-card processor's stock, valued at approximately $2,744,000.
A number of other hedge funds have also modified their holdings of the company. Clayton Financial Group LLC boosted its position in Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after buying an additional 58 shares during the last quarter. PayPay Securities Corp raised its position in Visa by 102.7% during 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 last quarter. Cresta Advisors Ltd. purchased a new position in Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC lifted its stake in 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 during the period. Finally, Dorato Capital Management acquired a new stake in Visa during the 4th quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Trading Up 0.1%
Shares of V opened at $327.67 on Friday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66. 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's fifty day moving average is $321.23 and its two-hundred day moving average is $324.24. The stock has a market cap of $587.76 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.
Visa (NYSE:V - Get Free Report) last issued its earnings results 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. The business had revenue of $11.23 billion during the quarter, compared to analysts' expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. Research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has approved 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 purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa's payout ratio is currently 23.34%.
Key Visa News
Here are the key news stories impacting Visa this week:
Insider Buying and Selling
In other Visa news, CFO Chris Suh sold 10,639 shares of the company's 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 directly owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm'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 of the company's stock, 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. 0.12% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on V shares. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Citigroup lowered their price target on shares of Visa from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Truist Financial set a $371.00 price target on Visa and gave the stock a "buy" rating in a research report on Tuesday, May 12th. UBS Group lifted their price objective on Visa from $390.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $400.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $387.78.
View Our Latest Report on Visa
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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