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Visa Inc. $V Shares Acquired by R Squared Ltd

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Key Points

  • R Squared Ltd boosted its Visa stake by 172.3% in the first quarter, bringing its position to 6,456 shares worth about $1.95 million.
  • Several Visa insiders sold shares, including General Counsel Julie B. Rottenberg and CEO Ryan McInerney, though both transactions were made under pre-arranged Rule 10b5-1 trading plans.
  • Analysts remain bullish on Visa, with a consensus Buy rating and an average price target of $397.39; the company also reported strong quarterly results and authorized a $20 billion share buyback.
  • MarketBeat previews top five stocks to own in August.

R Squared Ltd increased its holdings in Visa Inc. (NYSE:V - Free Report) by 172.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,456 shares of the credit-card processor's stock after purchasing an additional 4,085 shares during the period. Visa accounts for 1.1% of R Squared Ltd's investment portfolio, making the stock its 11th biggest position. R Squared Ltd's holdings in Visa were worth $1,951,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Clayton Financial Group LLC increased its stake in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp boosted its position 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 acquiring an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new stake in Visa in the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC increased its position in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in Visa during the fourth quarter worth approximately $30,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on V. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Weiss Ratings raised Visa from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Truist Financial set a $371.00 target price on Visa and gave the company a "buy" rating in a report on Tuesday, May 12th. Sanford C. Bernstein restated an "outperform" rating and set a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Finally, Raymond James Financial restated an "outperform" rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $397.39.

View Our Latest Analysis on V

Visa Price Performance

Visa stock opened at $352.21 on Wednesday. The firm has a fifty day moving average of $328.99 and a 200-day moving average of $324.88. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $365.02. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $631.79 billion, a P/E ratio of 30.68, a PEG ratio of 1.91 and a beta of 0.75.

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 for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the business posted $2.76 EPS. The business's quarterly revenue was up 17.1% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 13.1 EPS for the current year.

Visa announced that its board has authorized a share buyback plan 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 plans are generally an indication that the company's management believes its shares are undervalued.

Visa Dividend Announcement

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

More Visa News

Here are the key news stories impacting Visa this week:

Visa Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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.

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