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Global Retirement Partners LLC Purchases 3,469 Shares of Visa Inc. $V

Visa logo with Business Services background
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Key Points

  • Global Retirement Partners LLC increased its Visa stake by 6.9% in the fourth quarter, buying 3,469 shares and bringing its total holding to 53,811 shares worth about $18.9 million.
  • Visa reported strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both beating expectations, while revenue rose 17.1% from a year earlier.
  • The company’s board approved a $20 billion share repurchase plan, and Visa also reaffirmed its shareholder returns with a quarterly dividend of $0.67 per share.
  • Five stocks to consider instead of Visa.

Global Retirement Partners LLC lifted its position in Visa Inc. (NYSE:V - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,811 shares of the credit-card processor's stock after acquiring an additional 3,469 shares during the period. Global Retirement Partners LLC's holdings in Visa were worth $18,872,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Patron Partners LLC raised its position in shares of Visa by 0.6% in the 3rd quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor's stock worth $1,587,000 after acquiring an additional 30 shares in the last quarter. MTM Investment Management LLC raised its position in shares of Visa by 0.9% in the 3rd quarter. MTM Investment Management LLC now owns 3,344 shares of the credit-card processor's stock worth $1,142,000 after acquiring an additional 30 shares in the last quarter. High Note Wealth LLC raised its position in shares of Visa by 6.8% in the 3rd quarter. High Note Wealth LLC now owns 474 shares of the credit-card processor's stock worth $162,000 after acquiring an additional 30 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Visa by 2.0% in the 3rd quarter. Beacon Capital Management LLC now owns 1,541 shares of the credit-card processor's stock worth $526,000 after acquiring an additional 30 shares in the last quarter. Finally, Chapman Financial Group LLC raised its position in shares of Visa by 0.9% in the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor's stock worth $1,096,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa Stock Performance

Visa stock opened at $331.18 on Thursday. 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 company has a market capitalization of $594.06 billion, a P/E ratio of 28.85, a PEG ratio of 1.76 and a beta of 0.78. The stock's 50 day moving average is $312.03 and its 200 day moving average is $325.46. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company 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 quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 EPS. On average, equities research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale 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, Director Lloyd Carney sold 650 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director owned 2,679 shares in the company, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,744 shares of company stock worth $14,356,010. Insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on V. Loop Capital began coverage on Visa in a research report on Tuesday, March 31st. They issued a "buy" rating and a $387.00 target price for the company. Freedom Capital raised Visa from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 16th. Morgan Stanley reissued an "overweight" rating and issued a $415.00 target price on shares of Visa in a research report on Wednesday, April 29th. Citigroup cut their price target on Visa from $450.00 to $400.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Finally, Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Buy" and a consensus price target of $387.67.

Read Our Latest Research Report on V

Visa Company 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.

Read More

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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