2,263 Shares in Visa Inc. (NYSE:V) Purchased by Johnson Financial Group LLC

Key Points

• Johnson Financial Group LLC has made a new investment in Visa Inc., purchasing 2,263 shares valued at approximately $793,000.
• Insider transactions revealed that CEO Ryan Mcinerny sold 8,630 shares for over $3 million, significantly reducing his ownership stake.
• Visa announced a quarterly dividend of $0.59 per share, with a payout ratio of 23.05%, reflecting its strong financial position.

Johnson Financial Group LLC purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,263 shares of the credit-card processor's stock, valued at approximately $793,000.

A number of other hedge funds and other institutional investors have also modified their holdings of V. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa in the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the first quarter worth approximately $54,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Visa in the first quarter worth approximately $56,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on V shares. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock worth $27,643,224 over the last quarter. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.4%

NYSE V traded up $4.77 during trading hours on Friday, reaching $336.86. 6,071,880 shares of the company traded hands, compared to its average volume of 6,296,455. Visa Inc. has a 12 month low of $258.74 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $617.39 billion, a PE ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94. The company has a 50 day moving average of $352.79 and a two-hundred day moving average of $347.26.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.