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Mach 1 Financial Group LLC Has $2.46 Million Position in Visa Inc. $V

Visa logo with Business Services background
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Key Points

  • Mach 1 Financial Group LLC increased its Visa stake by 237.7% in the fourth quarter, ending with 7,025 shares valued at about $2.46 million.
  • Visa reported strong quarterly results, posting $3.31 EPS versus the $3.10 estimate and $11.23 billion in revenue, with revenue up 17.1% year over year.
  • The company’s board approved a $20 billion share repurchase program and Visa also declared a quarterly dividend of $0.67 per share, while analysts continue to rate the stock a consensus Buy.
  • Interested in Visa? Here are five stocks we like better.

Mach 1 Financial Group LLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 237.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,025 shares of the credit-card processor's stock after purchasing an additional 4,945 shares during the quarter. Mach 1 Financial Group LLC's holdings in Visa were worth $2,464,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock worth $3,834,000 after purchasing an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock worth $402,000 after purchasing an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock worth $6,521,000 after purchasing an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on 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 completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares of the company's stock, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 42,744 shares of company stock worth $14,356,010. 0.12% of the stock is currently owned by insiders.

Visa Trading Up 0.4%

V opened at $331.18 on Thursday. The company's 50 day moving average is $312.03 and its 200-day moving average is $325.46. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $375.51. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $594.06 billion, a P/E ratio of 28.85, a PEG ratio of 1.76 and a beta of 0.78.

Visa (NYSE:V - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 EPS. Equities research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has initiated a stock repurchase 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 reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Visa Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Daiwa Securities Group raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $370.00 price target on the stock in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a research report on Wednesday, January 28th. Freedom Capital raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Piper Sandler set a $160.00 price target on shares of Visa in a research note on Wednesday, January 28th. Six research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $387.67.

View Our Latest Stock Analysis 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.

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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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