TIAA Trust National Association Buys 11,238 Shares of Visa Inc. $V

Key Points

• TIAA Trust National Association increased its Visa stake by 5.8% in the fourth quarter, buying 11,238 additional shares and bringing its holdings to 205,089 shares valued at about $71.9 million.
• Visa reported better-than-expected quarterly results, with EPS of $3.31 versus estimates of $3.10 and revenue of $11.23 billion versus $10.75 billion expected. Revenue rose 17.1% year over year, and analysts now expect $13.09 EPS for the full fiscal year.
• The company recently paid a quarterly dividend of $0.67 per share and approved a $20 billion stock buyback program. Wall Street remains bullish, with a consensus Buy rating and average price target of $387.78.

TIAA Trust National Association raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 205,089 shares of the credit-card processor's stock after acquiring an additional 11,238 shares during the period. TIAA Trust National Association's holdings in Visa were worth $71,927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Clayton Financial Group LLC boosted its holdings in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after buying an additional 58 shares during the last quarter. PayPay Securities Corp boosted its holdings in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after buying an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in shares of Visa in the fourth quarter worth approximately $26,000. Parvin Asset Management LLC boosted its holdings in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after buying an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Visa in the fourth quarter worth approximately $30,000. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 1.3%

V stock opened at $319.51 on Tuesday. The firm has a fifty day moving average price of $316.81 and a 200 day moving average price of $324.48. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $573.12 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.76 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. Freedom Capital raised shares of Visa from a "hold" rating to a "strong-buy" rating in a report on Monday, February 16th. Loop Capital began coverage on shares of Visa in a report on Tuesday, March 31st. They issued a "buy" rating and a $387.00 price objective on the stock. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a "buy" rating in a report on Tuesday, May 12th. Oppenheimer reissued an "outperform" rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $415.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Visa currently has a consensus rating of "Buy" and a consensus price target of $387.78.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of Visa stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company's stock, valued at $829,471.98. The trade was a 19.53% 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, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on 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 transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,744 shares of company stock valued at $14,356,010 over the last three months. 0.12% of the stock is owned by company insiders.

Visa Profile

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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