EJMK Ventures LLC Purchases Shares of 4,987 Visa Inc. $V

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Key Points

  • EJMK Ventures LLC initiated a new position in Visa during the fourth quarter, buying 4,987 shares worth about $1.75 million. Visa now accounts for 1.1% of the firm’s portfolio and ranks as its 21st largest holding.
  • Several major brokerages remain bullish on Visa, with recent coverage from Bank of America, BMO Capital Markets, UBS and Cantor Fitzgerald. The stock has a consensus rating of Buy and an average price target of $387.78.
  • Visa reported strong quarterly results, beating earnings and revenue estimates with $3.31 EPS and $11.23 billion in revenue. The company also paid a quarterly dividend and authorized a $20 billion share buyback, signaling confidence in its outlook.
  • MarketBeat previews top five stocks to own in July.

EJMK Ventures LLC purchased a new stake in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,987 shares of the credit-card processor's stock, valued at approximately $1,749,000. Visa makes up 1.1% of EJMK Ventures LLC's holdings, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Chapman Financial Group LLC boosted its stake in Visa by 0.9% in the third quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor's stock valued at $1,096,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd increased its position in shares of Visa by 0.3% during the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor's stock worth $3,313,000 after purchasing an additional 30 shares in the last quarter. TSA Wealth Managment LLC increased its position in shares of Visa by 4.9% during the third quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor's stock worth $225,000 after purchasing an additional 31 shares in the last quarter. Bank OZK lifted its holdings in shares of Visa by 3.7% during the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor's stock valued at $293,000 after purchasing an additional 31 shares during the last quarter. Finally, FOCUS Wealth Advisors LLC lifted its holdings in shares of Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor's stock valued at $2,704,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America started coverage on Visa in a research note on Thursday, March 5th. They set a "buy" rating and a $410.00 target price on the stock. BMO Capital Markets began coverage on Visa in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price target for the company. UBS Group raised their price target on Visa from $390.00 to $410.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings lowered Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and set 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 issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $387.78.

View Our Latest Report on V

Insider Transactions at Visa

In other news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 15,174 shares of the company's stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is currently owned by corporate insiders.

More Visa News

Here are the key news stories impacting Visa this week:

Visa Trading Up 0.1%

NYSE:V opened at $327.67 on Friday. The company has a market capitalization of $587.76 billion, a P/E ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The firm has a fifty day simple moving average of $321.23 and a 200-day simple moving average of $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, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. On average, equities research analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa's payout ratio is presently 23.34%.

Visa announced that its board has approved a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are 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.

Further Reading

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).

Institutional Ownership by Quarter for Visa (NYSE:V)

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.

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