Virtus Advisers LLC Invests $410,000 in Visa Inc. $V

Key Points

• Virtus Advisers LLC has invested approximately $410,000 in Visa Inc., acquiring 1,171 shares in the company during the first quarter.
• Insider trading activity included significant sales by CEO Ryan Mcinerney and insider Paul D. Fabara, with Mcinerney selling 8,630 shares.
• Visa reported strong earnings, with earnings per share of $2.98, exceeding expectations, and quarterly revenue of $10.17 billion, up 14.3% year-over-year.

Virtus Advisers LLC purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,171 shares of the credit-card processor's stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also modified their holdings of V. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter worth $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the 4th quarter worth $47,000. Navigoe LLC purchased a new position in shares of Visa during the 4th quarter worth $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in shares of Visa during the 1st quarter worth $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock worth $28,340,553 over the last 90 days. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

V opened at $349.3180 on Monday. The stock has a market capitalization of $640.23 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.33 and a beta of 0.94. The company has a fifty day moving average of $347.92 and a 200 day moving average of $347.39. Visa Inc. has a fifty-two week low of $265.31 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

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, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $2.42 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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