Gibbs Wealth Management Has $7.14 Million Stock Position in Visa Inc. $V

Key Points

• Gibbs Wealth Management boosted its Visa stake by 75.2% in the first quarter, buying an additional 10,131 shares and bringing its total holding to 23,609 shares worth about $7.14 million.
• Visa reported strong quarterly results, with EPS of $3.31 beating estimates and revenue of $11.23 billion topping forecasts, while revenue rose 17.1% year over year.
• The company’s board approved a $20 billion stock buyback and Visa also paid a quarterly dividend of $0.67 per share, reinforcing shareholder returns.

Gibbs Wealth Management increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 75.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,609 shares of the credit-card processor's stock after purchasing an additional 10,131 shares during the quarter. Visa comprises about 0.9% of Gibbs Wealth Management's portfolio, making the stock its 22nd biggest position. Gibbs Wealth Management's holdings in Visa were worth $7,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. MWA Asset Management boosted its position in Visa by 3.6% in the 1st quarter. MWA Asset Management now owns 9,401 shares of the credit-card processor's stock valued at $2,843,000 after buying an additional 325 shares during the last quarter. Davis R M Inc. raised its position in shares of Visa by 1.5% during the first quarter. Davis R M Inc. now owns 299,217 shares of the credit-card processor's stock worth $90,435,000 after acquiring an additional 4,334 shares during the last quarter. Monograph Wealth Advisors LLC raised its position in shares of Visa by 228.6% during the first quarter. Monograph Wealth Advisors LLC now owns 2,070 shares of the credit-card processor's stock worth $626,000 after acquiring an additional 1,440 shares during the last quarter. State of Wyoming lifted its stake in shares of Visa by 34.2% during the first quarter. State of Wyoming now owns 4,009 shares of the credit-card processor's stock valued at $1,212,000 after acquiring an additional 1,022 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of Visa by 3.0% during the first quarter. Coronation Fund Managers Ltd. now owns 124,579 shares of the credit-card processor's stock valued at $37,653,000 after acquiring an additional 3,674 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Down 0.5%

Visa stock opened at $351.68 on Friday. The company's 50 day simple moving average is $336.98 and its 200 day simple moving average is $325.13. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.14. The firm has a market capitalization of $630.84 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.88 and a beta of 0.75. 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 issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.76 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 13.13 EPS for the current year.

Visa declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Visa Dividend Announcement

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

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa announced a partnership with Airwallex to build embedded-finance tools for freight and shipping platforms, a move that could expand Visa’s footprint in cross-border B2B payments and working-capital solutions. Visa and Airwallex Team on Embedded Finance for Freight Companies
• Positive Sentiment: DoorDash’s new instant-deposit features for drivers use Visa Direct, highlighting continued adoption of Visa’s real-time money-movement infrastructure in consumer and gig-economy payments. DoorDash Launches Instant Deposits for DoorDash Crimson with Astra
• Positive Sentiment: BNP Paribas Exane upgraded Visa to “strong-buy,” adding to the bullish case that the company’s earnings momentum and premium network position can support further upside. Visa upgraded by BNP Paribas Exane
• Neutral Sentiment: Several preview articles ahead of Visa’s fiscal Q3 results point to continued revenue and earnings growth, with consensus estimates around $3.23 EPS on $11.35 billion in revenue; investors are waiting to see whether the company can justify its valuation when it reports next week. Visa's Q3 Earnings Could be a Catalyst: Should You Buy Now?
• Neutral Sentiment: Jim Cramer also highlighted Visa as a beneficiary of resilient consumer credit demand, which reinforces a positive spending backdrop but does not change the near-term fundamentals on its own. Jim Cramer Highlights Visa (V) as Consumer Credit Demand Soars
• Negative Sentiment: A Reuters report on new U.S. visa restrictions targeting people tied to cybercrime is not directly related to Visa Inc.’s payments business, but the headline may have created some noise for the stock due to the shared name. US announces visa restriction policy for people complicit in cybercrime

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,490 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,219,704.26. This represents a 40.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last quarter. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on V shares. Loop Capital initiated coverage on Visa in a report on Tuesday, March 31st. They set a "buy" rating and a $387.00 price objective for the company. Weiss Ratings upgraded shares of Visa from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 6th. Oppenheimer reiterated an "outperform" rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Piper Sandler assumed coverage on shares of Visa in a research note on Monday, June 29th. They set an "overweight" rating and a $394.00 price target for the company. Finally, Citigroup cut their price objective 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. Eight analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of "Buy" and an average price target of $398.36.

About Visa

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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