Scientech Research LLC Buys 800 Shares of Visa Inc. $V

Key Points

• Scientech Research LLC increased its ownership of Visa Inc. by 28.5%, acquiring an additional 800 shares, bringing their total holdings to 3,603 shares valued at approximately $1.26 million.
• Insider sales included CEO Ryan Mcinerney selling 8,630 shares for around $3.05 million, resulting in a significant decrease of his personal stake by 94.14%.
• Visa reported a quarterly earnings performance that surpassed analyst expectations, with earnings per share of $2.98 against an anticipated $2.85, alongside a revenue increase of 14.3% year-over-year.

Scientech Research LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 28.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,603 shares of the credit-card processor's stock after buying an additional 800 shares during the quarter. Scientech Research LLC's holdings in Visa were worth $1,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in shares of Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter worth $27,000. 1 North Wealth Services LLC bought a new stake in shares of Visa in the first quarter worth $38,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the fourth quarter worth $47,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Visa in the first quarter worth $54,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock worth $8,114,295 in the last quarter. Insiders own 0.13% of the company's stock.

Visa Trading Down 2.3%

V opened at $343.02 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The firm has a market capitalization of $628.67 billion, a PE ratio of 33.50, a P/E/G ratio of 2.28 and a beta of 0.92. The company's 50-day moving average is $348.51 and its 200 day moving average is $347.22.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Truist Financial reduced their price objective 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. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

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.

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