Visa Inc. $V Holdings Raised by Empowered Funds LLC

Empowered Funds LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,936 shares of the credit-card processor's stock after acquiring an additional 38,101 shares during the period. Empowered Funds LLC's holdings in Visa were worth $59,824,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock worth $3,834,000 after acquiring an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its stake in shares of Visa by 16.9% during the 2nd 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. increased its stake in shares of Visa by 13.8% during the 2nd 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. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V opened at $362.37 on Tuesday. 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 fifty day simple moving average of $338.16 and a 200 day simple moving average of $325.18. The company has a market cap of $650.01 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.89 and a beta of 0.75. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.14.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for 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 revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.76 EPS. On average, sell-side analysts predict that Visa Inc. will post 13.12 EPS for the current year.

Visa announced that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding 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 a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on V. BMO Capital Markets reaffirmed an "outperform" rating and issued a $387.00 price objective (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Erste Group Bank raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday. UBS Group raised their target price on Visa from $390.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Loop Capital started coverage on Visa in a report on Tuesday, March 31st. They set a "buy" rating and a $387.00 target price on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $399.41.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,581 shares of company stock worth $25,627,975 over the last ninety days. Company insiders own 0.12% of the company's stock.

About Visa

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.

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.