Janney Montgomery Scott LLC Has $250.24 Million Stock Holdings in Visa Inc. $V

Key Points

• Janney Montgomery Scott LLC increased its Visa stake by 4.2% in the first quarter, ending with 827,943 shares worth about $250.24 million. Visa is now its 29th-largest holding.
• Visa reported strong quarterly results, with earnings of $3.31 per share and revenue of $11.23 billion, both beating analyst expectations. Revenue rose 17.1% year over year.
• The company approved a $20 billion share repurchase program and also paid a quarterly dividend of $0.67 per share, reflecting a 0.8% yield. Analyst sentiment remains positive, with a consensus rating of Buy and an average price target of $397.96.

Janney Montgomery Scott LLC grew its holdings in Visa Inc. (NYSE:V - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 827,943 shares of the credit-card processor's stock after acquiring an additional 33,025 shares during the period. Visa accounts for approximately 0.6% of Janney Montgomery Scott LLC's holdings, making the stock its 29th largest position. Janney Montgomery Scott LLC's holdings in Visa were worth $250,238,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of V. Chapman Financial Group LLC lifted its stake 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 valued at $1,096,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd lifted its position in shares of Visa by 0.3% in the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor's stock worth $3,313,000 after buying an additional 30 shares during the last quarter. Bank OZK boosted its stake in shares of Visa by 3.7% during the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor's stock worth $293,000 after acquiring an additional 31 shares in the last quarter. FOCUS Wealth Advisors LLC increased 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 acquiring an additional 31 shares during the last quarter. Finally, Planned Solutions Inc. raised its stake in shares of Visa by 2.0% in the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor's stock valued at $560,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Transactions at Visa

In related news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated 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 sale, the chief financial officer directly owned 9,872 shares of the company's stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This 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 company insiders.

Visa Trading Up 1.7%

Shares of V stock opened at $341.86 on Tuesday. The firm has a market capitalization of $613.22 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66. The firm's fifty day simple moving average is $323.89 and its 200 day simple moving average is $324.40. 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 (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts' consensus estimates 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 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. As a group, sell-side analysts predict that Visa Inc. will post 13.09 EPS for the current year.

Visa declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

V has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Loop Capital assumed coverage on shares of Visa in a report on Tuesday, March 31st. They set a "buy" rating and a $387.00 price target for the company. Finally, Weiss Ratings lowered Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Six analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $397.96.

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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