Neo Ivy Capital Management Makes New Investment in Visa Inc. (NYSE:V)

Key Points

• Neo Ivy Capital Management has acquired a new position in Visa Inc., purchasing 3,584 shares valued at approximately $1,256,000 during the first quarter.
• Visa's recent quarterly earnings showed EPS of $2.76, surpassing analysts' expectations of $2.68, with revenue of $9.59 billion for the quarter.
• The company announced a quarterly dividend of $0.59, which represents an annualized dividend of $2.36 and a yield of 0.66%.

Neo Ivy Capital Management bought a new stake in Visa Inc. (NYSE:V - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,584 shares of the credit-card processor's stock, valued at approximately $1,256,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC grew its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new stake in Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC grew its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares during the last quarter. Eagle Strategies LLC grew its stake in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after buying an additional 43,546 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.8%

NYSE:V traded up $2.96 on Friday, hitting $356.93. 3,915,274 shares of the company's stock were exchanged, compared to its average volume of 5,270,063. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. The company has a market cap of $658.60 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50-day moving average price of $356.30 and a 200-day moving average price of $345.45.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the firm posted $2.51 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

Several research firms have recently commented on V. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Macquarie decreased their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five 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 stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average target price of $375.52.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last quarter. Company insiders own 0.13% of the company's stock.

Visa Company 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.